Tempsens Instruments’ IPO drew 184x subscription, while its grey market premium indicated a potential listing gain of more than 100%.
Tempsens Instruments is expected to announce the basis of allotment for its ₹6.5-billion initial public offering (IPO) on August 25, following exceptionally strong demand across investor categories.
The IPO received bids for 2.7945 billion shares against 151.82 million shares available for subscription, resulting in an overall subscription of 184.07 times, according to NSE data. Non-Institutional Investors (NIIs) recorded the highest demand, with their portion subscribed 314.44 times. Qualified Institutional Buyers (QIBs) subscribed 302.88 times, while the Retail Individual Investors (RIIs) segment was subscribed 60.69 times.
The company had set a price band of ₹285–₹300 per equity share. The public issue opened on August 20 and closed on August 24. Tempsens Instruments is scheduled to list its shares on both the BSE and NSE on August 28.
According to InvestorGain, the company’s shares were trading at a grey market premium (GMP) of around ₹317 on August 25. Based on the upper end of the IPO price band, this indicated an estimated listing price of approximately ₹617, representing a potential premium of 105.67%. Grey market premiums are unofficial and can fluctuate based on market sentiment. They do not necessarily indicate the actual listing price.
The allotment process is scheduled for August 25, followed by the initiation of refunds and credit of shares to successful applicants on August 27. The shares are expected to begin trading on August 28.
The ₹6.5-billion offering consists of a fresh issue of ₹950 million and an offer for sale (OFS) of 185 million shares valued at ₹5.55 billion at the upper end of the price band.
Ahead of the IPO, Tempsens Instruments raised ₹1.9455 billion from anchor investors on August 19. The company allotted 64.85 million equity shares to anchor investors at the issue price.
Tempsens plans to deploy a portion of the fresh issue proceeds towards capital expenditure and debt reduction. About ₹181.3 million has been allocated for capital expenditure in its electrical heating solutions and specialised cable solutions businesses. Another ₹550 million is earmarked for repayment of selected borrowings, with the remaining funds intended for general corporate purposes.
The company’s financial performance also improved in FY26. Revenue from operations increased to ₹4.4488 billion from ₹3.7853 billion in FY25. Profit after tax rose to ₹710.7 million from ₹625.5 million over the same period.
Tempsens Instruments reported total income of ₹4.5586 billion in FY26, while EBITDA stood at ₹1.1317 billion. The company’s EBITDA margin for the year was 24.83%.
ICICI Securities and JM Financial are acting as the book-running lead managers for the IPO, while KFin Technologies is the registrar to the issue.
