Tempsens Instruments and Symbiotec Pharmalab announce upcoming IPOs

Two Indian companies, Tempsens Instruments (India) Ltd and Symbiotec Pharmalab Ltd, have announced upcoming initial public offerings (IPOs).

Tempsens Instruments, a provider of temperature sensing and heating solutions, will launch a Rs 650 crore IPO on August 20. The price band is set at Rs 285-300 per equity share, with the issue expected to close on August 24. The company intends to use the proceeds for capital expenditure in electrical heating and specialized cable solutions, debt repayment, and general corporate purposes. The shares are slated to list on the BSE and NSE on August 28.

Symbiotec Pharmalab, an Indore-based pharmaceutical and biotechnology company specializing in corticosteroid and steroidal-hormone APIs, will launch a Rs 1,757 crore IPO on August 24. The price band is fixed at Rs 938-988 per equity share. The offering includes a fresh issue of Rs 150 crore and an offer-for-sale of Rs 1,607 crore. Proceeds from the fresh issue are earmarked for debt repayment and general corporate purposes. Listing on the BSE and NSE is expected on September 1.