Tempsens Instruments Shares Make Bumper Debut, Stock Lists With 111% Premium

Tempsens Instruments listed on the NSE and the BSE on August 28. On the BSE, the specialised cable manufacturer's shares listed at Rs 631.2 per share, up 110.4 per cent compared to the upper end of the price band of Rs 300 apiece on the exchanges. On the NSE, the stock was listed at Rs 634 per share, up by 111.33 per cent over the issue price.

Tempsens Instruments IPO: Listing Day Gain

Applicants who were successfully allotted a minimum of one lot or 50 shares would have made a profit of around Rs 16,700 [(Rs 634 - Rs 300) x 50] after the stock listed on the exchanges. The thermal engineering company's market capitalisation stands at Rs 5,291.52 crore after listing, and 2.22 lakh shares of the company changed hands.

Tempsens Instruments IPO: Offer Size

The initial public offering (IPO) was a book-built issue worth Rs 650 crore and consisted of a fresh issue of 3.16 million shares worth Rs 95 crore and an offer for sale (OFS) of 18.5 million shares amounting to Rs 555 crore. The price band was fixed at Rs 285-300 per share. The minimum lot size for retail investors was fixed at 50 shares, aggregating to an investment of Rs 15,000 .

Tempsens Instruments IPO: Subscription

Tempsens IPO saw strong demand and was oversubscribed 184.07 times during its subscription period from August 20-24. Investors across categories placed bids for 2,794.45 million shares compared to the net offer size of 15.18 million shares available after anchor allocations.

The non-institutional investors (NII) booked their quota in the Tempsens Instruments IPO 314.44 times. Retail investors booked their quota 61 times, while the qualified institutional buyers (QIB) quota was subscribed 302.88 times. Employees of the company booked their quota 124.95 times.

Tempsens Instruments: Promoters

The promoters of the company, Virendra Prakash Rathi, Vinay Rathi, and Pratap Singh Talesara, diluted a portion of their stakes, Amit Talesara, Puneet Talesara, and Chandra Prakash Talesara through the OFS. Following the listing of the stock, the promoter shareholding has reduced to 65.67 per cent from 80.51 per cent prior to the public issue.

Tempsens Instruments: Competitors

Following its market debut, shares of Tempsens Instruments will trade alongside its peers in the Indian thermal engineering and specialised cables sector. With a presence in customised temperature sensing and electrical heating solutions catering to diverse industries worldwide.

Tempsens Instruments IPO: Objective

The company will use the net proceeds from the fresh issue for the repayment or pre-payment, in full or part, of certain borrowings (Rs 55.00 crore), funding certain capital expenditure towards electrical heating and specialized cable solutions (Rs 18.13 crore), and for general corporate purposes.

At the time of writing, shares of Tempsens Instruments were trading at Rs 617 apiece on the BSE, down by 2.25 per cent compared to the listing price. On the NSE, the stock traded at Rs 620.35 apiece, down by 2.15 per cent compared to the listing price.