Tempsens Instruments to float ₹650-crore IPO on August 20
The price band has been fixed at ₹285-300 per equity share, while the issue will close on August 24
Temperature sensing and heating solutions provider Tempsens Instruments (India) Ltd has announced its plans to launch an initial public offering (IPO) on August 20, with an issue size of ₹650 crore. The price band for the equity shares has been set between ₹285-300 per share, and the issue will be open for bidding on August 19. According to the announcement, the post-IPO market capitalization at the upper price band is estimated to be ₹2,515 crore.
The IPO consists of a fresh issue of equity shares up to ₹95 crore and an Offer-for-Sale (OFS) of up to 1.85 crore shares, resulting in an estimated issue size of ₹650 crore. Tempsens plans to use the proceeds to finance capital expenditure, debt repayment, and general corporate purposes. The company, incorporated in 1990, specializes in thermal engineering and manufacturing customised temperature sensing, electrical heating, and specialised cable solutions.
Institutional investors are allocated 50% of the offer, while 15% is reserved for non-institutional investors and 35% for retail investors. The shares are expected to be listed on the BSE and NSE on August 28, with ICICI Securities and JM Financial acting as the book-running lead managers, and KFin Technologies Ltd serving as the registrar.
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