Tempsens Instruments (India) Limited is a thermal engineering and specialised cable manufacturer, engaged in the design and manufacture of customised temperature sensing solutions, electrical heating solutions and specialised cables.
Its product portfolio includes temperature sensing solutions, electrical heating solutions, and specialised cables. The public issue was of ₹650 cr.
Tempsens Instruments (India) shares jumped over 110 per cent on their market debut, marking the biggest listing gain on domestic exchanges this year. However, it dipped and managed to close with 96 per cent listing gains.
The stock began trading at ₹631.20 on the BSE and ₹634.00 on the NSE, more than doubling from its offer price of ₹300.
It then settled at ₹586.80 and ₹586.65 on the BSE and NSE, respectively, nearly 96 per cent over the IPO price, but over 7 per cent below the listing prices.
Swastika Investmart’s Shivani Nyati said Tempsens Instruments’ strong debut reflects its category leadership, financial growth, healthy margins and favourable industrial indigenisation themes. However, she cautioned that the sharp listing-day rise has pushed valuations significantly above historical averages, while sector cyclicality, manufacturing concentration in Udaipur and rising working capital needs remain key risks.
Nyati advised short-term traders and listing-gain seekers to consider booking profits or withdrawing their principal at current levels. Long-term investors can continue holding, with a trailing stop-loss of ₹570, while fresh buyers should avoid chasing the stock and wait for consolidation or a pullback.
Congratulations to Tempsens Instruments (India) Limited on getting listed on NSE today.Tempsens Instruments (India) Limited a thermal engineering and specialised cable manufacturer, engaged in the design and manufacture of customized temperature sensing solutions, electrical… pic.twitter.com/TJZjnqHagj
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Tempsens Instruments garnered ₹194.55 crore from anchor investors, including Temasek and SBI Mutual Fund.
The company had fixed a price band of ₹285-300 per equity share for the public issue.
The IPO comprised a fresh issue of equity shares aggregating up to ₹95 crore and an offer-for-sale of up to 1.85 crore equity shares.
At the upper end of the price band, the issue size was ₹650 crore, while the company’s post-issue market capitalisation was estimated at ₹2,515 crore.
The Udaipur-based company plans to use the proceeds for capital expenditure in electrical heating and specialised cable solutions, debt repayment and general corporate purposes.
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Source: Read the original article on www.thehindubusinessline.com
