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Grey Market Buzz: Tempsens IPO Eyes 104% Gain
24 Aug
Summary
- Tempsens IPO garners Rs 194.55 crore from anchor investors.
- IPO shows strong subscription, reaching 21.69 times on day 2.
- Grey market premium suggests a potential 104.33% listing gain.
The Rs 650 crore IPO of Tempsens Instruments, a provider of temperature sensing and heating solutions, is concluding its subscription period today, August 24. The issue has seen robust demand, subscribed 21.69 times by the second day of bidding. Anchor investors, including Temasek and SBI Mutual Fund, have already invested Rs 194.55 crore.
The grey market premium (GMP) for Tempsens Instruments' unlisted shares stands at Rs 313, signaling a potential listing gain of 104.33%. Based on the Rs 300 upper price band, this suggests a listing price of approximately Rs 613 per share. Brokerage firms Anand Rathi and Religare Broking have recommended subscribing to the IPO for the long term.
These recommendations are supported by Tempsens' strong financial performance, diversified product portfolio catering to critical industrial applications, and growing international presence. The company's revenue is projected to rise significantly by FY26, with healthy profit margins and low debt levels. The proceeds will be used for capital expenditure, debt repayment, and general corporate purposes.
