1 week ago
Tempsens Instruments IPO Subscribed Over 184 Times, GMP Hits 99%
Tempsens Instruments offered shares to the public in an IPO.
The shares were priced between Rs 285 and Rs 300 each.
People showed strong interest, and the IPO was subscribed more than 184 times on the final day.
The company wanted to raise about Rs 650 crore.
Some money will be used to buy equipment and expand electrical heating and cable solutions.
Another part will be used to repay loans.
Before the IPO, anchor investors invested Rs 194.5 crore.
The grey market showed a 99% premium, but this unofficial figure does not guarantee the share’s listing price or future performance.
Tempsens Instruments’ IPO was subscribed more than 184 times on its final day.
The IPO carried a price band of Rs 285-300 per share and aimed to raise about Rs 650 crore.
The issue included a Rs 95 crore fresh issue and an offer for sale of 1.85 crore shares worth Rs 555 crore.
The company raised Rs 194.5 crore from anchor investors on August 19 by allotting 64.84 lakh shares to 29 investors.
The latest grey market premium was 99%, while SBI Securities and Geojit recommended subscribing to the issue.
- Who
- Tempsens Instruments, its existing shareholders, anchor investors and IPO applicants.
- What
- The company’s IPO was subscribed more than 184 times, with a reported grey market premium of 99%.
- Where
- When
- The IPO’s final day; anchor shares were allotted on August 19.
- Why
- The company sought to raise about Rs 650 crore, including funds for capital expenditure, debt repayment and general corporate purposes.
Key facts
- Price band
- Rs 285-300 per share
- Target size
- About Rs 650 crore
- Fresh issue
- Rs 95 crore
- Offer for sale
- 1.85 crore shares worth Rs 555 crore
- Anchor investment
- Rs 194.5 crore raised on August 19
- Anchor allotment
- 64.84 lakh shares to 29 investors
- Latest GMP
- 99%; grey market activity is unofficial and unregulated
Sources
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