The Tempsens Instruments IPO entered its second day of bidding amid strong investor demand. With the issue commanding a reported grey market premium (GMP) of 90%, investors are closely watching the offering for significant listing gains.
On Day 2, the IPO was subscribed 5.94 times against 1.51 crore shares on offer. Retail investors showed even stronger interest, with their portion subscribed 6.46 times against the 75.65 lakh shares reserved for the segment.
Tempsens Instruments, a manufacturer of thermal engineering products and specialised cables, aims to raise Rs 650 crore through the IPO, which will remain open until August 24, 2026. The issue consists of a fresh issue of 32 lakh shares worth Rs 95 crore and an offer for sale (OFS) of 1.85 crore shares worth Rs 555 crore.
The IPO has a price band of Rs 285 to Rs 300 per share, with a lot size of 50 shares. At the upper end of the price band, retail investors will need to invest a minimum of Rs 15,000 for one lot.
The IPO allotment is expected to be finalised on August 25, 2026. The shares are scheduled to list on both the NSE and BSE, with August 28, 2026, as the tentative listing date.
ICICI Securities Ltd is the book-running lead manager for the issue, while KFin Technologies Ltd is the registrar.
Anchor Investors
Tempsens Instruments (India) raised Rs 194.54 crore from 29 anchor investors ahead of its IPO, which opened for public subscription on Thursday, August 20, 2026. According to the company's stock exchange filing, Tempsens Instruments allotted 64,84,999 equity shares to anchor investors at Rs 300 per share.
Tempsens Instruments IPO Subscription Status
On Day 2 of bidding, the Tempsens Instruments IPO was subscribed 5.94 times, against the 1.51 crore shares available for subscription.
Retail Individual Investors (RIIs): The portion was subscribed 6.46 times, against 75.65 lakh shares on offer.
Non-Institutional Investors (NIIs): The category was subscribed 12.51 times, against 32.42 lakh shares offered.
Qualified Institutional Buyers (QIBs): The QIB portion was subscribed 0.05 times (5%), against 43.23 lakh shares on offer.
Tempsens Instruments IPO GMP Today
The latest grey market premium (GMP) for the Tempsens Instruments IPO is Rs 270, representing a 90% premium over the upper price band of Rs 300 per share. Based on the prevailing GMP, the estimated listing price stands at around Rs 570 per share, suggesting the possibility of strong listing gains. However, GMP is an unofficial indicator and may fluctuate before the stock's listing.
Objects of the Issue
Tempsens Instruments plans to use Rs 73.13 crore in net proceeds from the fresh issue to support its growth plans and strengthen its financial position. Of this amount, Rs 18.13 crore will be allocated towards capital expenditure for its electrical heating and specialised cable solutions businesses, while Rs 55 crore will be used for the prepayment or scheduled repayment of certain outstanding borrowings.
The remaining proceeds will be used for general corporate purposes, giving the company flexibility to meet its broader business requirements. Overall, the funds are expected to help the company expand its operational capabilities while also reducing its debt burden.
Financial Performance
Tempsens Instruments (India) delivered a strong financial performance in FY26, continuing the growth momentum seen in the previous year. The company's total income increased to Rs 455.86 crore in FY26 from Rs 382.47 crore in FY25, representing a 19% year-on-year growth.
The growth in revenue also translated into improved profitability. The company's Profit After Tax (PAT) rose to Rs 71.07 crore in FY26 from Rs 62.56 crore in FY25, registering a 14% year-on-year increase.
About Tempsens Instruments (India) Ltd
Incorporated in 1990, Tempsens Instruments (India) Limited is a thermal engineering and specialised cable manufacturer focused on designing and manufacturing customised temperature-sensing solutions, electrical heating solutions and specialised cables. Its product portfolio spans temperature sensors, electrical heating systems and specialised cables, catering to a wide range of industrial applications.
The company is among the leading manufacturers of both contact and non-contact temperature sensors in India by revenue, with an estimated market share of around 10.5% in the temperature sensor segment for the year ended March 31, 2026.
Between April 1, 2023 and March 31, 2026, Tempsens Instruments served more than 1,000 unique customers. The company also has a strong international footprint, exporting its products to more than 80 countries, including the UAE, Germany and Poland. Its global presence spans markets across Asia Pacific, Africa and the Middle East, North Africa, Europe, and North and South America.
Should You Subscribe?
According to a research report by Anand Rathi, Tempsens Instruments is valued at an implied P/E multiple of 35.4x and an EV/EBITDA multiple of 25.64x based on FY26 earnings at the upper end of the IPO price band.
The brokerage believes the company's strong revenue growth, diversified product portfolio and expanding international presence could support a valuation premium. However, at the upper price band, the IPO appears to be fully valued. Despite the premium valuation, Anand Rathi has initiated a 'Subscribe: Long Term' rating on the IPO, suggesting that investors with a long-term investment horizon may consider the issue.
