Tempsens Instruments IPO subscribed 184.07 times ahead of NSE/BSE debut
Business
Tempsens Instruments is all set to hit the stock market this Friday, making its debut on both NSE and BSE.
The company's IPO, open from August 20-24, was a huge hit: investors rushed in, with the issue being subscribed 184.07 times.
Noninstitutional investors especially went big, oversubscribing by 314.44 times.
IPO raised ₹650cr amid strong subscriptions
The IPO raised ₹650 crore, with shares priced between ₹285-₹300 each. Demand was strong across the board: qualified institutional buyers subscribed 302.88 times, and retail individual investors subscribed 60.69 times.
With a gray market premium hinting at a possible listing price of about ₹607, or 102.33% above the issue price, Tempsens plans to use the funds for expansion and paying down debt.