5 days ago
Tempsens Instruments Makes Blockbuster Debut With 96% Premium
Tempsens Instruments makes temperature sensors and heating solutions for industries.
It offered its shares to investors at Rs 300 each.
When trading began, the shares opened above Rs 631 on both major Indian stock exchanges.
This meant the shares started at more than double their offer price.
By the end of the day, they were still about 96 percent higher than the offer price.
Investors had applied for the IPO 184.07 times more than the available shares.
The company raised Rs 650 crore through a combination of new shares and shares sold by existing holders.
Tempsens plans to use the money for equipment and specialised cable projects, repaying debt and other business needs.
Tempsens Instruments shares opened at Rs 631.20 on the BSE and Rs 634 on the NSE, against an issue price of Rs 300.
The stock ended at Rs 586.80 on the BSE and Rs 586.65 on the NSE, representing gains of about 95.6%.
The company’s IPO was subscribed 184.07 times on its final bidding day, with a price band of Rs 285-300 per share.
The Rs 650-crore IPO comprised a fresh issue of up to Rs 95 crore and an offer-for-sale of up to 1.85 crore shares.
Tempsens plans to use the proceeds for capital expenditure, debt repayment and general corporate purposes; reported post-listing valuations differed between sources at Rs 4,919.30 crore and Rs 4,934.81 crore.
- Who
- Tempsens Instruments (India) Ltd and investors in its IPO.
- What
- Tempsens shares made a strong stock-market debut, opening more than 110% above the Rs 300 issue price and ending about 96% higher.
- Where
- The shares listed on the BSE and NSE, while the company is based in Udaipur.
- When
- Friday; the IPO’s final bidding day was Monday.
- Why
- The debut followed strong investor demand, with the IPO subscribed 184.07 times; proceeds are intended for capital expenditure, debt repayment and general corporate purposes.
Key facts
- Issue price
- Rs 300 per equity share
- BSE opening price
- Rs 631.20
- NSE listing price
- Rs 634
- BSE closing price
- Rs 586.80
- IPO size
- Rs 650 crore
- IPO subscription
- 184.07 times
- IPO structure
- Fresh issue of up to Rs 95 crore and offer-for-sale of up to 1.85 crore equity shares
- Reported post-listing valuation
- Rs 4,919.30 crore in one report and Rs 4,934.81 crore in another
Sources
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