Tempsens Instruments India IPO fully subscribed within an hour on Day 1; check price band, lot size and key dates

The initial public offering of temperature sensing and heating solutions provider Tempsens Instruments (India) Ltd was fully subscribed within an hour on the first day of bidding on Thursday, August 20. The issue will end on August 24.

It has received bids for 2,10,11,000 shares compared to 1,51,81,667 shares on offer, translating to 1.38 times subscription, according to the NSE data until 11 am.

The category for non-institutional investors was subscribed 2.51 times, and the portion for retail investors received 1.68 times subscription. The quota for qualified institutional buyers was booked 1%.

The ₹650 crore IPO, with a price band of ₹285 to ₹300 per share, is a combination of a fresh issue of shares valued at ₹95 crore and an Offer-for-Sale (OFS) component of ₹555 crore.

Under the OFS, promoters Amit Talesara, Chandra Prakash Talesara and Puneet Talesara and other selling shareholders Nirmal Kumar Pande and Ankit Talesara will offload their stake.

The company intends to use the proceeds from the initial share sale towards funding certain capital expenditure for its electrical heating solutions and specialised cable solutions, repayment of debt and for corporate general purposes.

Tempsens Instruments (India) IPO lot size

A lot consists of 50 shares and in multiples thereof. Of the net offer, 50% has been reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 35% for retail investors.

Tempsens Instruments (India) IPO: Allotment and listing date

Before the IPO, the company raised ₹194.5 crore from anchor investors, including Singaporean Temasek Holdings-owned Aranda Investments, Ashoka WhiteOak ICAV - Ashoka WhiteOak Emerging Markets Equity Fund, Goldman Sachs, Axis Max Life Insurance, Kotak Mahindra Life, HDFC AMC, Nippon Life India, Aditya Birla Sun Life AMC, Kotak Mahindra AMC, Tata Mutual Fund and Edelweiss, among others.

Tempsens Instruments, incorporated in 1990, is a thermal engineering and specialised cable maker offering customised temperature sensing, specialised cable and electrical heating solutions. The company makes a wide range of contact and non-contact temperature sensors and offers tailored solutions across industrial applications.

The equity shares of the company are proposed to be listed on the NSE and BSE. JM Financial and ICICI Securities are the issue's book-running lead managers, while KFin Technologies Ltd is the registrar.