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Fri, 21 Aug 2026
08:24:45 am
Fri, 21 Aug 2026
08:24:45 am
Synopsis
Tempsens Instruments IPO GMP rises to ₹274, with an estimated listing price of ₹574 and 91.33% potential gain. Check IPO price, subscription, financials, valuation, allotment and listing details.
Tempsens Instruments (India) IPO is receiving strong investor interest after its subscription opened on August 20, 2026. The ₹650 crore bookbuilding issue has a price band of ₹285 to ₹300 per share, with the issue scheduled to close on August 24. The IPO comprises a fresh issue of 31.67 lakh shares worth ₹95 crore and an offer for sale of 1.85 crore shares worth ₹555 crore. The minimum retail investment is ₹15,000 for 50 shares at the upper price band, while the shares are proposed to list on the BSE and NSE on August 28. The latest subscription data shows the issue was subscribed 11.88 times by August 21 at 12:09 PM, with strong demand from the NII and retail categories.
Grey market activity has also strengthened sharply. The latest GMP for Tempsens Instruments is ₹274 as of August 21 at 11:35 AM. At the upper issue price of ₹300, this indicates an estimated listing price of ₹574 and a potential gain of 91.33%. The company has reported growth in income, EBITDA and profit over FY24-FY26, while its FY26 debt-to-equity ratio stood at 0.15. The IPO valuation, however, stands at 35.38 times post-issue earnings, making valuation and future earnings growth important factors to track.
The latest grey market premium for the Tempsens Instruments (India) IPO stands at ₹274. Based on the upper price band of ₹300, the estimated listing price is ₹574, implying an estimated gain of 91.33%. The GMP has moved from ₹154 on August 17 to ₹172 on August 18, ₹220 on August 19, ₹270 on August 20 and ₹274 on August 21. GMP is an unofficial market indicator and can change before the actual listing.
| GMP Date | IPO Price | GMP | Subscription | Estimated Listing Price | Estimated Profit per Lot | Last Updated |
|---|---|---|---|---|---|---|
| 21 Aug 2026 | ₹300 | ₹274 ▲ | 10.97x | ₹574 (91.33%) | ₹13,700 | 21-Aug-2026 11:35 |
| 20 Aug 2026 | ₹300 | ₹270 ▲ | 5.95x | ₹570 (90.00%) | ₹13,500 | 20-Aug-2026 23:37 |
| 19 Aug 2026 | ₹300 | ₹220 ▲ | - | ₹520 (73.33%) | ₹11,000 | 19-Aug-2026 23:37 |
| 18 Aug 2026 | ₹300 | ₹172 ▲ | - | ₹472 (57.33%) | ₹8,600 | 18-Aug-2026 23:35 |
| 17 Aug 2026 | ₹300 | ₹154 ▲ | - | ₹454 (51.33%) | ₹7,700 | 17-Aug-2026 23:33 |
| 16 Aug 2026 | ₹0 | ₹65 ▼ | - | ₹65 | ₹0 | 16-Aug-2026 23:36 |
| 15 Aug 2026 | ₹0 | ₹85 ─ | - | ₹85 | ₹0 | 15-Aug-2026 23:31 |
Estimated profit per lot is calculated using GMP multiplied by the 50-share market lot. GMP is sourced from grey market activity and is indicative only.
The IPO has a total issue size of ₹650 crore and includes both fresh capital and an offer for sale. The fresh issue will raise ₹95 crore, while ₹555 crore will be offered through the OFS. The IPO opened on August 20 and will close on August 24, with allotment expected on August 25 and listing proposed for August 28.
| IPO metric | Details |
|---|---|
| IPO dates | August 20 to August 24, 2026 |
| Price band | ₹285 to ₹300 |
| Issue price | ₹300 |
| Face value | ₹4 |
| Lot size | 50 shares |
| Total issue size | ₹650 crore |
| Fresh issue | ₹95 crore |
| Offer for sale | ₹555 crore |
| Retail minimum investment | ₹15,000 |
| Listing | BSE, NSE |
| Proposed listing date | August 28, 2026 |
| Market cap at offer price | ₹2,514.98 crore |
The Tempsens Instruments (India) IPO was subscribed 11.88 times by August 21 at 12:09 PM. The NII category recorded the strongest demand at 25.69 times, while retail investors subscribed 12.09 times. The QIB category was subscribed 1.07 times excluding the anchor portion, while the employee portion was subscribed 18.81 times. The total number of applications stood at 13,74,621.
| Category | Subscription | Shares offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 1.07x | 43,23,335 | 46,14,150 |
| NII | 25.69x | 32,42,500 | 8,33,02,150 |
| bNII | 18.90x | 21,61,667 | 4,08,51,100 |
| sNII | 39.28x | 10,80,833 | 4,24,51,050 |
| Retail | 12.09x | 75,65,833 | 9,14,98,950 |
| Employee | 18.81x | 50,000 | 9,40,500 |
| Total | 11.88x | 1,51,81,668 | 18,03,55,750 |
Tempsens Instruments (India) was incorporated in 1990 and is engaged in thermal engineering and specialised cable manufacturing. The company makes customised temperature sensing solutions, electrical heating solutions and specialised cables. Its products include thermocouples, resistance temperature detectors, infrared pyrometers, online thermal imagers, furnace monitoring cameras and different types of electrical heating products. It also manufactures specialised cables for industrial applications. The company has served more than 1,000 unique customers between April 2023 and March 2026 and exports its products to more than 80 countries.
The company says it is the largest manufacturer of contact and non-contact temperature sensors in India by revenue and one of the largest electrical heater manufacturers in India, based on the F&S Report cited in the source. Its business also has exposure across different industries and includes project and MRO revenue. The company has established research and development capabilities and long-standing customer relationships.
Tempsens Instruments reported total income of ₹455.86 crore in FY26, compared with ₹382.47 crore in FY25 and ₹278.04 crore in FY24. Profit after tax increased to ₹71.07 crore in FY26 from ₹62.56 crore in FY25 and ₹40.92 crore in FY24, while EBITDA rose to ₹113.17 crore from ₹97.32 crore. The source data shows revenue growth of 19% and PAT growth of 14% between FY25 and FY26.
| Financial metric | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total income | ₹278.04 crore | ₹382.47 crore | ₹455.86 crore |
| EBITDA | ₹61.13 crore | ₹97.32 crore | ₹113.17 crore |
| Profit after tax | ₹40.92 crore | ₹62.56 crore | ₹71.07 crore |
| Assets | ₹271.14 crore | ₹551.28 crore | ₹661.05 crore |
| Net worth | ₹180.61 crore | ₹430.63 crore | ₹496.89 crore |
| Reserves and surplus | ₹202.98 crore | ₹427.25 crore | ₹465.16 crore |
| Total borrowing | ₹30.13 crore | ₹71.83 crore | ₹77.95 crore |
The company plans to use ₹18.13 crore from the fresh issue towards capital expenditure for electrical heating solutions and specialised cable solutions. Another ₹55 crore is proposed for prepayment or scheduled repayment of certain outstanding borrowings. The remaining amount is intended for general corporate purposes. Total borrowing increased from ₹71.83 crore in FY25 to ₹77.95 crore in FY26, while net worth increased to ₹496.89 crore.
At the offer price, the post-issue P/E stands at 35.38 times compared with 34.05 times before the issue. The post-issue market capitalisation is ₹2,514.98 crore. For FY26, the company reported ROE of 13.54%, ROCE of 21.61%, PAT margin of 15.59% and EBITDA margin of 24.83%. The debt-to-equity ratio stood at 0.15.
| Valuation metric | FY26 / Post IPO |
|---|---|
| EPS pre IPO | ₹8.81 |
| EPS post IPO | ₹8.48 |
| P/E pre IPO | 34.05x |
| P/E post IPO | 35.38x |
| ROE | 13.54% |
| ROCE | 21.61% |
| Debt/Equity | 0.15 |
| RoNW | 13.55% |
| PAT Margin | 15.59% |
| EBITDA Margin | 24.83% |
| NAV | ₹61.66 |
| Price to Book Value | 4.87x |
Promoter and promoter group holding is expected to decline from 80.51% before the issue to 65.67% after the IPO, while public shareholding is expected to increase from 19.49% to 34.33%.
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and promoter group | 80.51% | 65.67% |
| Public | 19.49% | 34.33% |
| Total | 100% | 100% |
Tempsens Instruments raised ₹194.55 crore from anchor investors on August 19, with 64,84,999 shares allocated to the anchor portion. The 50% portion of these shares has a 30-day lock-in ending September 24, while the remaining shares have a 90-day lock-in ending November 23.
The ₹555 crore OFS includes shares offered by Amit Talesara, Puneet Talesara, Chandra Prakash Talesara, Ankit Talesara and Nirmal Kumar Pande.
The company's growth is supported by its temperature sensing products, electrical heating solutions, specialised cables and international presence. Its customer base across industries and exports to more than 80 countries provide exposure to multiple markets. The company also has a focus on customised products and research and development. However, the business has working capital requirements, while SBI Securities has highlighted risks related to project and OEM dependence, metals and petrochemical exposure, raw material price movements and manufacturing concentration.
The strong subscription response and rise in GMP indicate high market interest in the issue. At ₹274, the latest GMP implies an estimated listing price of ₹574 against the ₹300 upper price band, although the actual listing price can differ substantially from grey market estimates. The company's FY24-FY26 financial performance shows growth in income, EBITDA and PAT, while its debt-to-equity ratio remains low. Investors will also need to consider the post-issue P/E of 35.38 times and the working capital requirements of the business when assessing the IPO.
Tempsens Instruments (India) IPO is a main-board IPO of 2,16,66,666 equity shares with a face value of ₹4 per share, aggregating up to ₹650 crore. The issue price is ₹300 per share, with a minimum order quantity of 50 shares.
The IPO opened for subscription on Thursday, August 20, 2026.
The IPO will close on Monday, August 24, 2026.
The minimum lot size is 50 shares. At the upper price of ₹300 per share, the minimum investment is ₹15,000.
Investors can apply for the IPO through their eligible stockbroker or IPO application platform during the subscription period. The retail category has a cut-off option, while the NII categories do not have a cut-off option.
The allotment is expected to be finalised on Tuesday, August 25, 2026.
The shares are proposed to be listed on the BSE and NSE on Friday, August 28, 2026.
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