Tempsens Instruments shares make blockbuster debut, list at 111% premium
Tempsens Instruments saw its stock price surge by 111% on its market debut following a highly successful IPO. The company plans to use the proceeds to fund capital expenditure and debt repayment.
Why it matters
The strong market performance reflects high investor confidence in the thermal engineering and specialized cable manufacturing sectors.
Shares of Tempsens Instruments made a stellar debut on Friday, listing with massive 111% premium over IPO price. The stock opened at Rs 631.20 and Rs 634 on the BSE & NSE, respectively, as compared to its issue price of Rs 300.The Rs 650-crore public issue was priced at Rs 300 per share and comprised a fresh issue of Rs 95 crore and an offer for sale (OFS) worth Rs 555 crore. Ahead of the IPO, the company also raised Rs 194.54 crore from anchor investors.The IPO was open for subscription from August 20 to August 24 and received an overwhelming response across investor categories. The issue was subscribed 184.07 times overall. The retail portion was subscribed 60.69 times, while qualified institutional buyers (QIBs) subscribed 302.88 times.
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