Tempsens Instruments IPO ends with 184x bids as GMP flirts with 100%

New Delhi: Tempsens Instruments (India) IPO closed for subscription on Monday with a blockbuster response, getting subscribed 184.21 times, while its grey market premium (GMP) hovered close to 100% of the upper issue price, at 5 PM on August 24. The Rs 650-crore mainboard issue, which opened for bidding on August 20, had a price band of Rs 285-Rs 300 per share and a lot size of 50 shares. At the upper end of the price band, retail investors had to invest a minimum of Rs 15,000 for one lot. Tempsens IPO subscription: Who bid the most? According to final subscription data, qualified institutional buyers (QIBs) subscribed their portion 302.88 times, while non-institutional investors (NIIs) bid 314.43 times their reserved quota. Within the NII segment, the small NII portion was subscribed 280.62 times, while the big NII category recorded an even stronger 331.34 times subscription. Retail investors subscribed their portion 60.97 times, implying intense competition for allotment, while the employee portion was booked 124.90 times. Overall, the IPO received bids equivalent to 184.21 times the shares available to the public. Demand accelerated sharply on the final day. At 5 pm, one market tracker had already recorded subscriptions of more than 300 times in the QIB and NII categories, highlighting the late surge in institutional bidding. Tempsens Instruments IPO GMP Adding to the buzz is the company's grey market premium. As of August 24, Tempsens Instruments shares were commanding a GMP of around Rs 297, or about 99% above the upper issue price of Rs 300. At that premium, the stock's estimated listing price works out to around Rs 597 per share, suggesting an indicative gain of nearly 100% for successful applicants. However, GMP is an unofficial and unregulated indicator and can change sharply before listing. It does not guarantee the actual listing price or post-listing performance. Market reports on Monday also showed the GMP moving around the 100% mark during the final day of bidding. Tempsens Instruments IPO size and timeline The IPO comprises a fresh issue of Rs 95 crore and an offer for sale worth Rs 555 crore. The company plans to use about Rs 18.13 crore from fresh proceeds for capital expenditure in its electrical heating and specialised cable businesses and Rs 55 crore towards repayment or prepayment of borrowings. The basis of allotment is expected to be finalised on August 25. Refunds and credit of shares to demat accounts are scheduled for August 27, while Tempsens Instruments is expected to list on the BSE and NSE on August 28. About Tempsens Instruments Incorporated in 1990, Tempsens Instruments is a thermal engineering and specialised cable manufacturer that makes customised temperature-sensing products, electrical heating solutions and specialised cables. Its products cater to industries including metals, petrochemicals, power and glass, while the company also has an export presence across more than 70 countries. Its total income rose to Rs 455.86 crore in FY26 from Rs 382.47 crore in FY25, while profit after tax increased to Rs 71.07 crore from Rs 62.56 crore.