Tempsens Instruments IPO opens for bidding; GMP at 73%. Should you subscribe or skip?

Tempsens Instruments (India) IPO opened for subscription on Thursday, August 20, 2026, with strong grey-market activity signalling robust investor interest. The issue is commanding a reported grey market premium (GMP) of 73%, raising expectations of potentially strong listing gains.

The thermal engineering and specialised cable manufacturer aims to raise Rs 650 crore through the public offer, which will close on August 24. The IPO comprises a fresh issue of 32 lakh shares worth Rs 95 crore and an offer for sale (OFS) of 1.85 crore shares aggregating Rs 555 crore.

The price band has been fixed at Rs 285-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 a tentative listing date of August 28, 2026.

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ICICI Securities is the book-running lead manager, while KFin Technologies is the registrar to the issue.

Anchor Investors

Tempsens Instruments (India) has raised Rs 194.54 crore from 29 anchor investors ahead of its IPO, which opens for public subscription on Thursday, August 20, 2026. According to the company’s filing with the stock exchanges, it has allotted 64,84,999 equity shares at Rs 300 per share to the anchor investors.

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.

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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)