Tempsens Instruments IPO sees 56% GMP before subscription opens
Business
Tempsens Instruments's IPO is getting a lot of buzz, with its gray market premium (GMP) shooting up to 56% (Investorgain quoted a GMP of ₹168, indicating a listing gain of 56%).
The IPO is priced at ₹285-₹300 per share and will open on August 20 and close on August 24, signaling strong interest from investors.
Tempsens to use ₹650cr from IPO
Incorporated in 1990, Tempsens makes thermal engineering products like temperature sensors and special cables for industries.
They're planning to use the ₹650 crore raised from this IPO to upgrade their heating and cable solutions, pay off some debt, and cover general expenses.
If you're keeping track, their shares will hit the BSE and NSE on August 28.