Tempsens Instruments launches Rs 650 crore IPO in India

Tempsens Instruments (India) has opened its initial public offering (IPO) bidding process on August 20. The book build issue aims to raise Rs 650 crore through a combination of a fresh issue of 0.32 crore shares worth Rs 95 crore and an offer for sale (OFS) of 1.85 crore shares totaling Rs 555 crore.

The company specializes in the design and manufacture of customized temperature sensing solutions, electrical heating solutions, and specialized cables. Prior to the opening, the company raised Rs 194.5 crore from 29 anchor investors, including Goldman Sachs, Aranda Investments (owned by Temasek Holdings), and several domestic mutual funds such as HDFC AMC, Nippon Life India, and Tata Mutual Fund.

The IPO price band is set between Rs 285 and Rs 300 per share. Market indicators, specifically the Grey Market Premium (GMP), have shown upward trends, suggesting potential listing gains, though these remain unofficial and volatile. Subscription trends in this industrial manufacturing sector are often driven by institutional investors due to the specialized nature of the business compared to consumer-facing sectors.