Tempsens Instruments IPO: 5.93x Subscribed on Day 1

New Delhi, Aug 20 (PTI) The initial public offering of temperature sensing and heating solutions provider Tempsens Instruments was subscribed 5.93 times on the first day of bidding on Thursday.

The company's Rs 650-crore IPO received bids for 8,99,96,050 shares against 1,51,81,667 shares on offer, as per NSE data.

The category for non-institutional investors received 12.50 times subscription. The retail investors category was subscribed 6.44 times, and the qualified institutional buyers (QIBs) received 5 per cent subscription.

Tempsens Instruments (India) Ltd has garnered Rs 194.55 crore from anchor investors, including Temasek and SBI Mutual Fund.

The IPO of Tempsens Instruments (India) Ltd will close on August 24.


The company has fixed a price band of Rs 285-300 per equity share for the offering.

The IPO comprises a fresh issue of equity shares aggregating up to Rs 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 is Rs 650 crore, and the company's post-issue market capitalisation is estimated at Rs 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.

Incorporated in 1990, Tempsens manufactures a wide range of contact and non-contact temperature sensors and provides tailored solutions across industrial applications.

The shares are proposed to be listed on the BSE and NSE.

ICICI Securities and JM Financial are the book-running lead managers to the issue.