Tempsens Instruments IPO Day 3: Issue sees robust demand as GMP soars 105%, subscription hits 38 times

The IPO of Tempsens Instruments entered its third and final day of bidding today amid robust investor interest. The issue has reportedly commanded a grey market premium (GMP) of 105%, raising expectations of strong listing gains.

The issue has been subscribed over 38 times so far on Day 3, led by strong demand from NIIs, whose quota has been booked 113 times.

Tempsens Instruments, which manufactures thermal engineering products and specialised cables, is looking to raise Rs 650 crore through the IPO. The issue comprises a fresh issue of 32 lakh shares worth Rs 95 crore and an offer for sale (OFS) of 1.85 crore shares amounting to Rs 555 crore.


The IPO has been priced in the range 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 would need to invest a minimum of Rs 15,000 for one lot.

The IPO is scheduled to close on August 24, 2026, with allotment expected on August 25. The company's shares are proposed to list on both the NSE and BSE on August 28, 2026, subject to the tentative schedule.

ICICI Securities Ltd. is the book-running lead manager for the issue, while KFin Technologies Ltd. is serving as the registrar.

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Tempsens Instruments IPO subscription status

As of 10.50 am, on Day 3 of bidding, the Tempsens Instruments IPO was subscribed 38 times, with investors bidding for shares against the 1.51 crore shares on offer.

Retail Individual Investors (RIIs): The retail portion was subscribed 25.38 times, against 75.65 lakh shares reserved for the category.

Non-Institutional Investors (NIIs): The NII portion was subscribed 113.98 times, against 32.42 lakh shares on offer.

Qualified Institutional Buyers (QIBs): The QIB portion was subscribed 3.39 times, against 43.23 lakh shares available for subscription.

Anchor Investors

Tempsens Instruments (India) has 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 GMP today

The latest grey market premium (GMP) for the Tempsens Instruments IPO stands at Rs 313, indicating a 105% premium over the upper price band of Rs 300 per share. Based on the current GMP, the estimated listing price is around Rs 613 per share, pointing to the potential for strong listing gains.

However, GMP is an unofficial market indicator and is not a guarantee of the stock’s actual listing price. It can also fluctuate before the shares begin trading.

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Objects of the issue

Tempsens Instruments plans to use the 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 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 AnandRathi, 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.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times.)