Tempsens Instruments (India)

ListedListed 28 Aug 2026MainboardNSE: TEMPSENSCheck allotment

Current price₹ 500.3+66.77% since issue

Listing day+111.33%

Issue price: ₹ 300
Issue size: ₹ 650 Cr.
Min. investment: ₹ 15,000
Listing price: ₹ 634
Subscribed: 184.07x
Lot size: 50 shares
P/E: 35.38
RoNW: 13.55%
RoCE: 21.61%
Debt / Equity: 0.15
PAT margin: 15.59%
EBITDA margin: 24.83%
RoE: 13.54%
EPS: ₹ 8.48
NAV: ₹ 61.66
Promoter stake: 65.67%

About

Tempsens Instruments (India) Limited was started in 1990. It is a thermal engineering and specialised cable company. It designs and makes temperature sensing products, electrical heating products and special purpose cables, mostly made to order as per what the customer needs. Its temperature sensing range includes thermocouples, resistance temperature detectors, infrared pyrometers, online thermal imagers and furnace monitoring cameras. Its electrical heating range includes immersion, process, skid, cartridge, band, tubular and flexible heaters. Its cable range includes low voltage control and power cables, instrumentation cables, thermocouple and RTD cables and nickel alloy conductors. As per the F&S Report the company is the largest maker of contact and non-contact temperature sensors in India by revenue, with a market share of about 10.5% in the temperature sensor segment in the year ended 31 March 2026. Between 1 April 2023 and 31 March 2026 it served more than 1,000 different customers, and it exports to over 80 countries including the United Arab Emirates, Germany and Poland.

Timeline

Opens
20 Aug
done
Closes
24 Aug
done
Allotment
25 Aug
done
Refunds
27 Aug
done
Demat credit
27 Aug
done
Listing
28 Aug
done

Grey market premium (GMP)

GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.

Highest: ₹ 330 on 27 Aug 2026
Lowest: ₹ 65 on 16 Aug 2026
First quoted: ₹ 85 on 15 Aug 2026

Subscription

How many times each investor group bid for its share, as of 28 Aug 2026, 06:30 PM IST.

How much to apply for

The smallest and largest bids for each kind of investor at the upper price band.

Lots and amounts by investor type

Retail (Min)	1	50	₹ 15,000
Retail (Max)	13	650	₹ 1,95,000
S-HNI (Min)	14	700	₹ 2,10,000
B-HNI (Min)	67	3,350	₹ 10,05,000

Company overview

Financials

Financials by year

Assets	661.05	551.28	271.14
Total Income	455.86	382.47	278.04
Profit After Tax	71.07	62.56	40.92
EBITDA	113.17	97.32	61.13
NET Worth	496.89	430.63	180.61
Reserves and Surplus	465.16	427.25	202.98
Total Borrowing	77.95	71.83	30.13

Strengths

The company is the largest maker of contact and non-contact temperature sensors in India by revenue as per the F&S Report, with about 10.5% share of that segment in FY2026.
Sales and profit have grown for three years. Total income went from Rs 278.04 crore in FY2024 to Rs 382.47 crore in FY2025 and Rs 455.86 crore in FY2026.
Profit after tax grew from Rs 40.92 crore in FY2024 to Rs 62.56 crore in FY2025 and Rs 71.07 crore in FY2026.
Margins are healthy for a manufacturing company. PAT margin was 15.59% and EBITDA was Rs 113.17 crore in FY2026.
The balance sheet is strong. Net worth was Rs 496.89 crore against borrowing of only Rs 77.95 crore as on 31 March 2026.
The customer base is wide, with more than 1,000 different customers served between April 2023 and March 2026, so it does not depend on a few buyers.
Exports go to more than 80 countries including the UAE, Germany and Poland, which spreads the risk beyond the Indian market.
The company has a long record of over 35 years, having started in 1990, and makes three related product lines instead of one.

Risks

This issue is priced high on earnings. At the upper band of Rs 300 the post issue P/E is about 35.38 times on an EPS of Rs 8.48.
Return on net worth is modest at 13.55%, which is low compared to the P/E being asked.
Profit grew slower than sales in FY2026. Income rose 19% but profit after tax rose only 14%, so margin came down slightly.
Borrowing has more than doubled in two years, from Rs 30.13 crore in FY2024 to Rs 77.95 crore in FY2026.
Sales depend on industrial capital spending. Temperature sensors and heaters are bought when factories are being built or upgraded, so a slowdown in industry directly reduces orders.
Exports to more than 80 countries bring currency risk and exposure to trade rules and tariffs in those markets.
Only Rs 18.13 crore of the money goes into new capacity, while Rs 55.00 crore is for repaying borrowings, so a large part is not adding to the earning capacity.
Promoter holding will come down from 80.51% to 65.67% after the issue.

What the money is for

Objects of the issue

Funding certain capital expenditure of the Company towards the (i) electrical heating solutions (ii) specialized cable solutions	18.13
Pre-payment or scheduled re-payment, in full or in part, of certain outstanding borrowings availed by the Company	55
General Corporate Purposes	—

Promoters

Virendra Prakash Rathi
Vinay Rathi
Pratap Singh Talesara

Promoter holding80.51%→65.67%before → after the issue · down 14.84 points

Anchor investors

29 anchors put in ₹ 194.56 Cr., including 14 mutual funds.

Anchor investors

ARANDA INVESTMENTS (MAURITIUS) PTE.LTD.	5,54,300	16.63	8.55%
SBI RESURGENT INDIA OPPORTUNITIES SCHEME	5,54,300	16.63	8.55%
HDFC BUSINESS CYCLE FUND	1,15,500	3.47	1.78%
HDFC MANUFACTURING FUND	2,30,950	6.93	3.56%
HDFC INNOVATION FUND	2,07,850	6.24	3.21%
NIPPON INDIA SMALL CAP FUND	5,54,300	16.63	8.55%
KOTAK ENERGY OPPORTUNITIES FUND	53,450	1.6	0.82%
KOTAK INFRASTRUCTURE & ECONOMIC REFORM FUND	5,00,850	15.03	7.72%
GOLDMAN SACHS FUNDS-GOLDMAN SACHS INDIA EQUITY PORTFOLIO	5,54,300	16.63	8.55%
ASHOKA WHITEOAK ICAV-ASHOKA WHITEOAK EMERGING MARKETS EQUITY FUND	5,54,300	16.63	8.55%
ADITYA BIRLA SUN LIFE SMALL CAP FUND	5,19,650	15.59	8.01%
APEX HYBRID LONG-SHORT FUND	34,650	1.04	0.53%
TITANIUM HYBRID LONG-SHORT FUND	2,00,050	6	3.08%
TITANIUM EQUITY LONG-SHORT FUND	1,16,650	3.5	1.8%
MOTILAL OSWAL CONTRA FUND	3,16,700	9.5	4.88%
360 ONE EQUITY OPPORTUNITY FUND-SERIES IV	3,16,700	9.5	4.88%
VALUEQUEST INDIA G.I.F.T.FUND	3,16,700	9.5	4.88%
EDELWEISS RECENTLY LISTED IPO FUND	87,100	2.61	1.34%
EDELWEISS BUSINESS CYCLE FUND	2,29,600	6.89	3.54%
AXIS MAX LIFE INSURANCE LTD.-PENSION PRESERVER FUND(ULIF01815/02/13PENSPRESER104)	1,330	0.04	0.02%
AXIS MAX LIFE INSURANCE LTD.-ULIF 01715/02/13 PENSMAXIMI 104-PENSION MAXIMISER FUND	22,455	0.67	0.35%
AXIS MAX LIFE INSURANCE LTD. A/C-ULIF00625/11/05PENSBALANC104-PENSION BALANCED FUND	1,331	0.04	0.02%
AXIS MAX LIFE INSURANCE LTD.-ULGF 00217/04/06 GRATBALANC 104-GROUP GRATUITY BALANCED FUND	3,013	0.09	0.05%
AXIS MAX LIFE INSURANCE LTD.-UMFPH-HIGH GROWTH PENSION FUND	6,691	0.2	0.1%
AXIS MAX LIFE INSURANCE LTD.-UHG2S-INDIA CONSUMPTION OPPORTUNITIES FUND	4,344	0.13	0.07%
AXIS MAX LIFE INSURANCE LTD.-UEGFH-HIGH GROWTH FUND II	67,364	2.02	1.04%
AXIS MAX LIFE INSURANCE LTD.-ULIF 00225/06/04 LIFEBALANC 104-BALANCED FUND	67,364	2.02	1.04%
AXIS MAX LIFE INSURANCE LTD.-SUSTAINABLE EQUITY FUND-ULIF02505/10/21 SUSTAINEQU104	59,657	1.79	0.92%
KOTAK MAHINDRA LIFE INSURANCE CO.LTD.	2,33,550	7.01	3.6%

Registrar, lead managers and documents

Listing on: BSE, NSE
Face value: ₹ 4 a share
Registrar: KFin Technologies Limited
Lead managers: JM Financial Ltd., ICICI Securities
Basis of allotment: Open

IPO dates, prices, grey market premium (GMP), subscription and the company overview: IPO Guru, updated three times a day. GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.

Our recommendations are research opinions, not investment advice. Read the offer document (RHP) and consult your financial adviser before investing.