The issue received bids for 279.44 crore shares against 1.518 crore crore shares on offer, resulting in subscription of 184.07 times.
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The ₹650-crore initial public offering of Tempsens Instruments (India) Ltd, thermal engineering and specialised cable manufacturer, received bids worth ₹83,834 crore as all category of investors pouring in money.
The issue received bids for 279.44 crore shares against 1.518 crore crore shares on offer, resulting in subscription of 184.07 times.
According to market participants, the strong interest in the IPO was largely driven by the grey market premium it commanded. Some estimates suggest that the stock is currently quoting at nearly twice its IPO price. The company came out with a IPO at a price band of ₹285-300.
Based on the final subscription figures, the chance of getting allotment is very difficult. For instance, only one out of every 66 retail applicants is likely to get allotment of 50 shares, while one out of about 260 SHNI applicants may get 700 shares, and two out of every 130-132 BHNI applicants 700 shares.
The IPO of Udaipur-based company, which designs and manufactures temperature sensing solutions, electrical heating solutions and specialised cables comprised a fresh issue of ₹95 crore and an offer for sale of ₹555 crore.
The net proceeds worth ₹ 18.134 crore will be utilsed for funding certain capital expenditure of the company towards their electrical heating solutions, and specialised cable solutions, ₹ 55 crore for pre-payment or scheduled re-payment, in full or in part, of certain outstanding borrowings availed by the company, and general corporate purposes.
As part of IPO, the company had garnered ₹194.54 crore from anchor investors who included marquee institutions such as Aranda Investments Pte. Ltd., SBI Mutual Fund (Resurgent India Opportunities Scheme), HDFC Mutual Fund, Nippon Life India Trustee (Nippon India Small Cap Fund), Kotak Mahindra Trustee, Goldman Sachs Funds (India Equity Portfolio), Ashoka WhiteOak ICAV, Aditya Birla Sun Life Mutual Fund, Motilal Oswal, 360 ONE, ValueQuest India, Edelweiss, Axis Max Life Insurance, and Kotak Mahindra Life Insurance Company.
ICICI Securities and JM Financial are the book running lead managers.
Tempsens reported revenue from operations of ₹444.90 crore in FY26, up 17.5 per cent year-on-year, with consolidated PAT of ₹71 crore. The company holds an approximately 10.5 per cent market share in India’s temperature sensor segment and is the sole Indian manufacturer of non-contact temperature sensors with a 21.3 per cent market share.
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