Tempsens Instruments IPO Day 3: Issue subscribed 144x

The initial public offering of Tempsens Instruments (India) Limited has been subscribed 144.53 times as of 2.54 PM on Monday, August 24, 2026, the third and final day of bidding, with the IPO market yet to close.

The issue has received bids for 2,19,41,52,800 shares against 1,51,81,667 shares on offer. Non-Institutional Investors (NIIs) led the demand at 294.08 times subscription, with the over-₹10 lakh category clocking 311.65 times.

Qualified Institutional Buyers (QIBs) subscribed 191.46 times, while Retail Individual Investors (RIIs) subscribed 53.85 times. The employee reservation portion was subscribed 108.53 times.

The Udaipur-based company, which designs and manufactures temperature sensing solutions, electrical heating solutions and specialised cables, raised ₹6,500 million at the upper price band of ₹300 per share.

The issue comprises a fresh issue of ₹950 million and an offer for sale of ₹5,550 million. ICICI Securities and JM Financial are the book running lead managers.

Tempsens reported revenue from operations of ₹4,449 million in FY26, up 17.5 per cent year-on-year, with consolidated PAT of ₹710 million.

The company holds an approximately 10.5 per cent market share in India’s temperature sensor segment and is the sole Indian manufacturer of non-contact temperature sensors with a 21.3 per cent market share.

Anand Rathi Research, in its IPO note, valued the company at a P/E of 35.4x and EV/EBITDA of 25.64x on FY26 earnings at the upper price band. The brokerage noted that given its strong revenue growth, diversified product portfolio and expanding international presence, the company may command a valuation premium, though the IPO appears fully priced at the upper band. It initiated a “Subscribe: Long Term” recommendation.

Published on August 24, 2026