Wire and cable manufacturer Tempsens Instruments (India) has wrapped up the bidding process for its Rs 650 crore IPO, with the offer witnessing robust participation, receiving an overall subscription of 184.07 times.
The Tempsens Instruments IPO was fully booked on its first day of bidding and had raised Rs 194 crore ahead of its opening. The share price band for the issue was set at Rs 285 to Rs 300. As per the latest update, the shares of Tempsens Instruments are trading at a premium of nearly 97% in the grey markets
Tempsens Instruments IPO: NII portion subscribed over 314x
The IPO received bids for 279.44 crore shares against its offer of 1.51 crore shares, reflecting an overall subscription of 184.07 times. The Non-institutional portion saw stellar investor demand, being subscribed 314.44 times.
This was followed by heavy demand in the Qualified Institutional Buyers (QIBs) segment, which was booked 302.88 times. The retail portion also saw high investor participation, being subscribed 60.69 times, and the employees’ quota was subscribed 124.95 times.
Tempsens Instruments IPO: Subscription snapshot
The Tempsens Instruments IPO received bids worth Rs 83,904.60 crore and attracted more than 75 lakh applications.
| Investor Category | Subscription (Day 3) |
| Qualified Institutional Buyers (QIBs) | 302.88x |
| Non-Institutional Investors (NIIs) | 314.44x |
| Retail Individual Investors (RIIs) | 60.69x |
| Employees | 124.95x |
| Overall | 184.07x |
Tempsens Instruments IPO: GMP at 97%
In the grey markets, the shares of Tempsens Instruments IPO are trading at a premium of 96.67%, on the upper end of the price band, translating into an estimated listing price of Rs 590. This suggests gains of Rs 290 per share and a profit of Rs 14,500 per lot.
As per various trackers, the IPO’s GMP moved over 100% during the day. However, readers should know that GMP is an unofficial metric to determine the listing price and fluctuates based on market mood and sentiment.