Tempsens Instruments IPO is all set to make its stock market debut on Friday, 27 August. The shares of Tempsens Instruments will be listed on both exchanges – BSE and NSE.
The allotment of Tempsens Instruments IPO was finalised on Tuesday, 25 August. Tempsens Instruments IPO had received stellar response from investors during the three-day subscription period.
The Tempsens Instruments IPO was subscribed 184.07 times on the last day of bidding. The non-institutional investors (NII) segment saw the highest demand, with a subscription of 314.44 times, while the qualified institutional buyers (QIB) portion was subscribed 302.88 times. Meanwhile, the quota reserved for retail individual investors (RIIs) was booked 60.69 times.
What does Tempsens Instruments IPO GMP signal?
The shares of Tempsens Instruments IPO are commanding a strong premium in the grey market, as per market observers.
The GMP of Tempsens Instruments IPO currently stands at ₹307, signalling a strong debut in the Indian stock market. The estimated listing price of Tempsens Instruments IPO is likely to be ₹607, which is 102.33% higher than the IPO price of ₹300.
Tempsens Instruments IPO details
The IPO opened for subscription from August 20 to August 24.
Tempsens Instruments, a manufacturer of thermal engineering products and specialised cables, raised ₹650 crore through the IPO. The issue consisted of a fresh issue of 32 lakh shares aggregating ₹95 crore and an offer for sale (OFS) of 1.85 crore shares worth ₹555 crore.
The company had set the IPO price band at ₹285– ₹300 per share, with a lot size of 50 shares. At the upper end of the price band, retail investors needed to invest a minimum of ₹15,000 to subscribe to one lot.
According to the tentative IPO timeline, the company’s shares are scheduled to be listed on both the NSE and BSE on August 28.
Tempsens Instruments intends to deploy ₹73.13 crore from the net proceeds of the fresh issue towards its expansion plans and financial strengthening. Around ₹18.13 crore will be spent on capital expenditure for its electrical heating and specialised cable solutions businesses, while the remaining ₹55 crore will be utilised for the prepayment or scheduled repayment of certain outstanding borrowings.
ICICI Securities Ltd is serving as the book-running lead manager for the IPO, while KFin Technologies Ltd has been appointed as the registrar to the issue.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
