Tempsens IPO Oversubscribed 21.65X: Strong Investor Demand

Tempsens Instruments’ initial public offering was oversubscribed by 21.65 times on its second day of bidding, attracting bids for 32,86,32,350 shares against 1,51,81,667 shares on offer.

Subscription Breakdown

• Non-institutional investors subscribed 52.97 times.
• Retail investors subscribed 18.65 times.
• Qualified institutional buyers subscribed 3.31 times.

Before the public offering, Tempsens Instruments secured Rs 194.55 crore from anchor investors.

• Key anchor investors included Temasek and SBI Mutual Fund.

IPO Specifics

The Rs 650 crore IPO is scheduled to close on August 24, with a price band set at Rs 285-300 per equity share.

• The offering combines a fresh issue of equity shares worth Rs 95 crore.
• It also includes an offer-for-sale of up to 1.85 crore equity shares.
• The total issue size at the upper end is Rs 650 crore.
• Post-issue, the company’s market capitalization is projected at Rs 2,515 crore.

Company Profile and Plans

Established in 1990, the Udaipur-based Tempsens Instruments specializes in manufacturing various contact and non-contact temperature sensors.

Funds from the IPO will be allocated for capital expenditures related to electrical heating and specialized cable solutions, repayment of existing debts, and general corporate requirements.

ICICI Securities and JM Financial are serving as the book running lead managers for the issue, with shares slated for listing on both the BSE and NSE.