Tempsens IPO fully subscribed in an hour, GMP hits 77%
What's the story
Tempsens Instruments (India)'s ₹650-crore initial public offering (IPO) was fully subscribed within its first hour on Thursday, propelled by strong retail and non-institutional demand. According to NSE data, the issue was subscribed 1.28 times, drawing bids for 1.94 crore equity shares against an offer of 1.52 crore. Meanwhile, the thermal engineering and specialized cable maker is seeing strong grey market momentum, with its grey market premium (GMP) signaling potential listing gains of around 77%.
Subscription specifics
Fresh issue worth ₹95 crore
The Tempsens Instruments IPO is a book-built issue with a mix of fresh issue and offer-for-sale (OFS).
The fresh issue comprises 0.32 crore shares worth ₹95 crore, while the OFS consists of 1.85 crore shares worth ₹555 crore.
The offer will remain open for subscription till August 24, with a price band of ₹285-300 per share.
Key dates
Key details of the IPO
The allotment will be finalized on August 25, with refunds initiated by August 27.
Shares will be credited to Demat accounts by the same date, and listing is scheduled for August 28.
In FY26, Tempsens Instruments reported a total income of ₹455.86 crore (up from ₹382.47 crore in FY25) and a profit after tax (PAT) of ₹71.07 crore (up from ₹62.56 crore).
Fund allocation
Use of proceeds and company profile
Tempsens Instruments plans to use the IPO proceeds for capital expenditure on electrical heating solutions and specialized cable solutions.
The rest will be used for pre-payment or scheduled re-payment of certain outstanding borrowings and general corporate purposes.
Founded in 1990, Tempsens is a thermal engineering and specialized cable manufacturer that designs customized temperature sensing solutions, electrical heating solutions, and specialized cables.