Summary of this article
The Rs 650-crore public issue opened on August 20.
Investors booked the IPO 3.78 times on day one.
Current grey market premium indicates strong expected listing gains.
The initial public offering (IPO) of thermal engineering and specialised cable manufacturer Tempsens Instruments (India) opened for subscription on August 20. It is a 100 per cent book-built offer with the bidding window scheduled to close on August 24.
The public issue has been fully subscribed across categories on the first day of bidding. Notably the non-institutional investor (NII) category is driving the demand for shares. Here is a detailed look at the public issue and the company’s business that investors should know before the subscription window closes:
Tempsens Instruments IPO: Offer Size And Selling Shareholders
The IPO comprises a fresh issue of shares aggregating up to Rs 95 crore and an offer for sale (OFS) of Rs 555 crore, aggregating to a total issue of Rs 650 crore. The promoters of the company include Virendra Prakash Rathi, Vinay Rathi, and Pratap Singh Talesara. The selling shareholders include Amit Talesara, Puneet Talesara, Chandra Prakash Talesara, Ankit Talesara, and Nirmal Kumar Pande.
Tempsens Instruments IPO: Price Band And Lot Size
Tempsens Instruments has set the price band for its public issue at Rs 285-300 per share. Retail investors can apply for a minimum of 50 shares, which amounts to an investment of Rs 15,000.
Small non-institutional investors (sNIIs) can apply for a minimum of 14 lots or 700 shares, aggregating to Rs 2.10 lakh, while big non-institutional investors (bNIIs) must bid for a minimum of 67 lots or 3,350 shares, amounting to Rs 10.05 lakh.
Tempsens Instruments IPO: Subscription
The IPO has been booked 3.78 times on the first day of subscription. Investors have cumulatively applied for 57.45 million shares compared to the 15.18 million shares offered for subscription.
Employees of the company have booked their quota 6.20 times by placing bids for 309,950 shares compared to the 50,000 shares offered for subscription. Retail individual investors (RIIs) booked their quota 4.47 times, as they applied for 33.80 million shares compared to the 7.56 million shares on offer. NIIs subscribed their quota 7.17 times by applying for 23.23 million shares against their reserved quota of 3.24 million shares. Qualified institutional buyers (QIBs) have applied for 2 per cent of the shares set aside for their category, bidding for 104,200 shares compared to 4.32 million shares set aside for them.
Tempsens Instruments IPO: GMP
The current trends in the grey market premium (GMP) indicate a premium of Rs 232 above the upper end of the price band. Based on the upper price band of Rs 300, the estimated listing price is Rs 532, indicating an expected listing gain of 77.33 per cent per share.
Tempsens Instruments IPO: Key Financials
In the fiscal year ended March 31, 2026, Tempsens Instruments’ total revenue from operations stood at Rs 455.86 crore, up by over 19 per cent compared to Rs 382.47 crore in the preceding fiscal. In the same period, the company’s profit-after-tax (PAT) stood at Rs 71.07 crore, up by more than 13 per cent compared to Rs 62.56 crore in the preceding fiscal. The company’s net worth stood at Rs 496.89 crore in FY26, up by over 15 per cent compared to Rs 430.63 crore in the preceding fiscal.
Tempsens Instruments: Business Model
Tempsens Instruments (India) 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. The company’s product portfolio caters to a range of industrial applications across sectors, such as metal, petrochemical, defence, and power. The company generates revenue by designing, manufacturing, and selling specialised thermal engineering products and industrial cables. The projects and original equipment manufacturer (OEM) segment of the business accounted for 67.55 per cent of revenue from operations in fiscal 2026.
Tempsens Instruments: Competitors
The company’s key competitors in the temperature sensors segment in India include Pyro Electric, Precision Mass Products, and Radix Electrosystems, while major global competitors include Endress+Hauser, WIKA Instruments, OMEGA Engineering, and Honeywell.
In the heating solutions segment, its competitors include Thermon, Heat Trace, and Alleima. For specialised cables, competitors include Thermo Cables and Thermon India. However the company does not have any listed peers in India.
Tempsens Instruments IPO: Should You Apply?
Before considering applying for the thermal engineering company’s public issue, investors should assess the risks and strengths related to the company’s business model.
Tempsens Instruments IPO: Key Risks
The company’s business is highly dependent on Projects/OEM business, which contributed 67.55 per cent of revenue from operations in fiscal 2026.
Its performance is influenced by demand trends in end-user industries, such as metal and petrochemical sectors, which collectively contributed 41.13 per cent of revenue from operations in fiscal 2026.
The company’s manufacturing units are geographically concentrated in Udaipur, Rajasthan, making production vulnerable to regional or localised disruptions.
Tempsens Instruments IPO: Key Strengths
The company claims to have a robust and diversified portfolio across temperature sensing solutions, electrical heating solutions, and specialised cables.
The company has a global presence through strategic alliances, with export sales contributing 28.52 per cent of revenue in fiscal 2026.
The business benefits from strong, long standing customer relationships along with a customer base spread across various sectors of the economy.
Tempsens Instruments IPO: Objective
The company intends to use the net proceeds from the IPO to fund capital expenditure towards its electrical heating and specialised cable solutions, prepay or repay certain outstanding borrowings in full or part, and for general corporate purpose.
