Tempsens Instruments doubles on debut, lists at 111% premium
What's the story
Tempsens Instruments made a stellar debut on the stock market today, with its shares opening at a whopping 111% premium over the issue price. The company's initial public offering (IPO) was subscribed an impressive 184 times during the bidding period from August 20-24. On the National Stock Exchange (NSE), Tempsens' shares opened at ₹634 apiece, while on the Bombay Stock Exchange (BSE), they debuted at ₹631.20 per share.
Market performance
Tempsens' market capitalization stands at ₹5,291.52 crore
Following its stellar debut, Tempsens' shares witnessed some initial fluctuations. The stock rose further to ₹634.85 apiece before falling over 8% to hit a low of ₹582 apiece.
Even after these fluctuations, the shares were still trading at a 94% premium over the IPO price.
The company's market capitalization post-listing stood at ₹5,291.52 crore.
IPO details
Key details of Tempsens IPO
Tempsens' ₹650 crore public issue comprised a fresh issue of ₹95 crore and an offer for sale (OFS) worth ₹555 crore.
Ahead of the IPO, the company raised ₹194.54 crore from anchor investors.
The Udaipur-based firm specializes in thermal engineering products and specialized cables.
It plans to use the net proceeds from the fresh issue for growth initiatives, financial strengthening, capital expenditure on electrical heating/specialized cable solutions businesses, prepayment/scheduled repayment of certain outstanding borrowings, and general corporate purposes.
Company profile
Strong financial performance and market leadership
Tempsens is India's largest temperature sensor manufacturer with a 10.5% market share. It also has a 21.3% share in non-contact temperature sensors.
The company has shown strong financial performance with revenue, EBITDA and PAT recording CAGRs of 27.2%, 35.2% and 28.2%, respectively, between FY24-26.
Exports contributed 28.5% of the company's revenue in FY26, highlighting its growing global presence.