Tempsens Instruments (India) Limited IPO
ListedMainboardEngineering
184.22×
Subscribed
Price band
₹300 – ₹300
Lot size
50
1 lot = ₹15,000
Issue size
₹650 Cr
Open – close
20 Aug 2026
to 24 Aug 2026
Listing
28 Aug 2026
Listing gain
+111.33%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Caution7 of 7 dimensions read
The filing raises real questions — 2 of 7 signals read negative
Strength52/100
- Demanding valuation36.0× earnings at the upper band, with no peer set published to compare against
- Strong revenue growthRevenue compounding at 27.2% across the reported years
- Adequate return on equityROE of 13.5%
- Conservative balance sheetDebt/equity of 0.13×
- Majority offer for sale85.4% of the issue is existing shareholders selling down
- 1 high-severity disclosure85% of the offer is an Offer for Sale, so most proceeds go to selling shareholders, not the company.
- Institutions bid heavilyQIB portion subscribed 302.88×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens20 Aug 2026
- Closes24 Aug 2026
- Allotment25 Aug 2026
- Listing28 Aug 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB302.88x
Non-institutionalNII / HNI314.44x
Big NIIabove ₹10L331.34x
Small NII₹2L – ₹10L280.66x
Retail individualRII61.00x
Employee124.95x
75,19,511 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 24 Aug 2026.
Chance of allotment
Retail61.00× subscribed
~1 in 61
Minimum 1 lot · 50 shares · ₹15,000 blocked
Retail is 61× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 61 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII314.44× subscribed
~1 in 314.4
Minimum 14 lots · 700 shares · ₹2,10,000 blocked
HNI is 314.44× subscribed. This category is allotted proportionately, so a bid receives roughly 1/314.4 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹300 – ₹300
Face value₹4
Lot size50shares
Minimum application₹15,000at cut-off
Total issue size₹650 Cr
Fresh issue₹95 Cr
Offer for sale₹555 Cr
Listing atMainboard
Company & valuation
P/E at upper band36.01×
NAV per share₹61.66
Return on equity13.52%
Debt / equity0.13×
ROCE21.61%
RoNW13.55%
PAT Margin15.59%
EBITDA Margin24.83%
NAV61.66
Price to Book Value4.87
ISININE1KZI01025
RegistrarKARVY
Lead managersICICI Securities Limited, JM Financial Limited
85.4% of this issue is an offer for sale. That money goes to existing shareholders selling their stake, not into the company. The business receives only the fresh-issue portion.
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 1,08,08,332 | 49.88% |
| Anchor Investor | 64,84,999 | 29.93% |
| QIB (Ex. Anchor) | 43,23,333 | 19.95% |
| NII (HNI) | 32,42,500 | 14.97% |
| bNII > ₹10L | 21,61,667 | 9.98% |
| sNII < ₹10L | 10,80,833 | 4.99% |
| Retail | 75,65,834 | 34.92% |
| Employee | 50,000 | 0.23% |
Total issue 2,16,66,666 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Retail (Min)₹15,0001 lot · 50 sh
Retail (Max)₹1,95,00013 lots · 650 sh
S-HNI (Min)₹2,10,00014 lots · 700 sh
S-HNI (Max)₹9,90,00066 lots · 3,300 sh
B-HNI (Min)₹10,05,00067 lots · 3,350 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted64,84,999
Anchor portion₹194.55 Cr
Bid date19 Aug 2026
Lock-in ends (50%)23 Sept 2026
Lock-in ends (rest)22 Nov 2026
Anchors are institutional money placed a day before bidding opens, against a lock-in. Those two dates are when that stock can first be sold — a supply event worth knowing if you still hold.
What the money is for
Stated use of the net proceeds
- 01Funding certain capital expenditure of our Company towards our (i) electrical heating solutions; and (ii) specialized cable solutions₹18.13 Cr
- 02Pre-payment or scheduled re-payment, in full or in part, of certain outstanding borrowings availed by our Company₹55 Cr
- 03General corporate purposes₹14.18 Cr
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2024 | 274.81 | — | 40.919 | 204.805 | — |
| 2025 | 378.526 | — | 62.555 | 441.679 | — |
| 2026 | 444.878 | — | 71.067 | 525.475 | — |
Revenue CAGR 27.2%PAT CAGR 31.8%
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
Mostly an exithigh
85% of the offer is an Offer for Sale, so most proceeds go to selling shareholders, not the company.
mediumOur business is highly dependent on Projects/OEM business, which contributed 67.55%, 69.16%, and 63.99% of revenue from operations for Fiscals 2026, 2025, and 2024, respectively, with the remaining derived from MRO business. Adverse changes in either category may materially and adversely affect our
mediumOur performance is influenced by demand trends in metal and petrochemical industries, which collectively contributed 41.13%, 42.90%, and 41.52% of revenue from operations for Fiscals 2026, 2025, and 2024, respectively. Negative developments in these sectors may materially affect our business, result
mediumSignificant volatility, increases, fluctuations, shortages, or delays in the supply of primary raw materials may adversely impact our business, financial condition, results of operations, and cash flows, particularly for project-specific or custom orders. These materials include metals such as coppe
mediumThe Projects/OEM business category is sensitive to economic downturns or reductions in customer capital expenditure; delays or cancellations of major projects can suppress growth. In the MRO business, lower demand may arise if customers extend lifecycles of their thermal components, implement effici
Positives the filing discloses (2)
Low leverage
Debt-to-equity of 0.13x.
Strong revenue growth
Restated revenue CAGR of 27.2%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+6.1%
Listed up
6 of 8
Best
+65.4%
Orient Cables (India) Limited
Worst
-2.3%
Vishal Nirmiti Limited
Fusion CX Limitedsame segment
4.5× sub+5.5%
HD Fire Protect Limitedsame segment
131.7× sub+23.6%
Nityas Gems and Jewellery Limitedsame segment
2.3× sub+6.7%
Vishal Nirmiti Limitedsame segment
1.7× sub-2.3%
Shah Investor's Home Limitedsame segment
38.1× sub+2.4%
Srit India Limitedsame segment
125.2× sub+13.8%
Runwal Enterprises Limitedsame segment
2.5× sub+0.0%
Orient Cables (India) Limitedsame segment
92.3× sub+65.4%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Tempsens Instruments (India) Limited
Tempsens Instruments (India) Limited is a thermal engineering and specialised cable manufacturer engaged in the design and manufacture of temperature-sensing solutions, electrical heating solutions, and specialised cables. Its temperature-sensing portfolio includes thermocouples, resistance temperature detectors, infrared pyrometers, online thermal imagers, temperature gauges, pressure gauges, level gauges, thermowells, temperature transmitters, fibre optic temperature sensors, and temperature calibrators. Its electrical heating products include immersion, process, skid, cartridge, band, tubular, flexible and furnace heaters, as well as laboratory and process furnaces. The specialised cable portfolio includes control and power cables, instrumentation cables, thermocouple and RTD cables, heat trace cables and mineral insulated metal sheath cables. The company operates 15 manufacturing units with its subsidiaries and joint ventures, including 10 units in Udaipur, India, and five overseas units in the United Arab Emirates, South Korea, Indonesia, Germany, and Poland. It also has a network of 28 distributors as of March 31, 2026.
Founded 1990MD Mr Vinay RathiSector Engineering
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Tempsens Instruments (India) Limited IPO subscribed?
Tempsens Instruments (India) Limited is subscribed 184.22× overall (QIB 302.88×, NII 314.44×, retail 61.00×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, KARVY.
What is the minimum investment in the Tempsens Instruments (India) Limited IPO?
One lot is 50 shares, so a retail application at the ₹300 cut-off price blocks ₹15,000. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Tempsens Instruments (India) Limited IPO?
The retail portion is subscribed 61.00×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 61. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Tempsens Instruments (India) Limited IPO allotment date?
Allotment is scheduled for 2026-08-25, with listing on 2026-08-28. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, KARVY.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.