2 weeks ago
Tempsens Instruments Sets ₹650-Crore IPO for August 20
Tempsens Instruments makes temperature sensors, heating equipment, and specialised cables for industrial customers.
It is asking the public to buy shares in an IPO.
The IPO opens on August 20 and closes on August 24.
Each share will cost between ₹285 and ₹300.
The company wants to raise money by selling new shares and by allowing existing shareholders to sell some of theirs.
It plans to use part of the new money for equipment and part to repay debt.
The shares are expected to begin trading on the BSE and NSE on August 28.
Investors in the grey market are currently indicating a possible price of ₹475, but this is not a guaranteed listing price.
Tempsens Instruments’ ₹650-crore IPO opens on August 20 and closes on August 24, with anchor bidding scheduled for August 19.
The price band is ₹285–₹300 per share, with a minimum lot size of 50 shares.
The offering includes a fresh issue of up to ₹95 crore and an Offer-for-Sale of 1.85 crore shares.
The company plans to spend ₹18.1 crore on capital expenditure, use ₹55 crore to repay borrowings, and allocate the balance to general corporate purposes.
Shares are expected to list on the BSE and NSE on August 28; the reported grey-market premium is ₹175, implying an indicative ₹475 listing price at the upper band.
- Who
- Tempsens Instruments (India) Ltd, along with its existing shareholders and promoters.
- What
- A ₹650-crore IPO comprising a fresh issue of up to ₹95 crore and an Offer-for-Sale of 1.85 crore shares.
- Where
- India, with the shares proposed to be listed on the BSE and NSE; the IPO launch was announced in Mumbai.
- When
- The IPO opens August 20, closes August 24, and is expected to list August 28; anchor bidding is scheduled for August 19.
- Why
- To fund capital expenditure, repay certain borrowings, and support general corporate purposes.
Key facts
- IPO size
- ₹650 crore at the upper end of the price band
- Price band
- ₹285–₹300 per equity share
- Lot size
- 50 equity shares and multiples of 50 thereafter
- Fresh issue
- Up to ₹95 crore
- Offer-for-Sale
- 1.85 crore equity shares
- Use of proceeds
- ₹18.1 crore for capital expenditure and ₹55 crore for debt repayment; the remainder for general corporate purposes
- Grey-market premium
- Reported at ₹175, indicating an estimated ₹475 listing price at the ₹300 upper band
- Reservation and listing
- Up to 50% for QIBs, at least 15% for NIIs, at least 35% for retail investors; proposed BSE and NSE listing on August 28
Sources
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