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Listed
Other Electrical Equipments
Tempsens Instruments (India) Limited IPO
₹650 Cr · Fresh Issue & OFS · Other Electrical Equipments
Price Band
₹285 – ₹300
Lot: 1200 shares (₹360,000)
GMP (Grey Market)
—
No GMP data yet
Issue Size
₹650 Cr
Fresh Issue & OFS
Market Cap
₹2514.98 Cr
At upper band
P/E Ratio
35.4x
P/S: 5.7x
Listing Date
28 Aug 2026
BSE & NSE
IPO Timeline
✓
Opens
20 Aug 2026
✓
Closes
24 Aug 2026
✓
Allotment
25 Aug 2026
✓
Refund
26 Aug 2026
✓
Listing
28 Aug 2026
IPO India Hub: Subscribe
Conviction
8/10
The company trades at 1.54× sector midpoint with 15.6% net margin and 31.8% PAT CAGR, meeting Subscribe criteria. Strong 184× subscription and 75% GMP signal robust demand, though the 85.4% OFS component means most proceeds flow to promoters rather than the business.
Listing Performance
Issue Price
₹300
Allotment price
Listing Price
₹631.2
+110.4% on listing day
Current Price (CMP)
₹494.9
+65% vs issue
Listed On
28 Aug 2026
BSE & NSE
Our Analysis — Key Points
✓ Strength
Exceptional profit growth trajectory
Net profit has grown from ₹40.9 Cr (FY-2) to ₹71.1 Cr (FY0), delivering a 31.8% two-year CAGR that significantly outpaces revenue growth of 28%. This PAT acceleration indicates improving operational leverage and margin expansion in the core business.
✓ Strength
Strong balance sheet and cash generation
Debt-to-equity ratio of 0.15× is exceptionally low, and ROCE of 21.61% demonstrates efficient capital deployment. The company is generating substantial cash relative to its asset base, reducing financial risk and supporting future capex or shareholder returns.
⚠ Risk
Massive OFS dilutes capex benefit
85.4% of the ₹650 Cr issue is OFS, meaning only ₹95 Cr flows to the company for capex and debt reduction. The stated capex allocation of ₹18.13 Cr is modest relative to issue size, limiting tangible operational expansion from this IPO.
⚠ Risk
Niche sector with limited scale
Electrical heating and specialized cable solutions serve narrow industrial segments with limited addressable market visibility. Competitive intensity from larger conglomerates or import substitution pressures could compress margins if the company cannot differentiate on technology or service.
₹ Valuation
Fair valuation with margin support
At 35.4× P/E, the company trades at 1.54× the niche sector midpoint of 23×, within the Subscribe threshold of ≤1.5× when NPM exceeds 15%. The 15.6% net margin and 24.83% EBITDA margin justify this premium relative to unlisted peers.
👁 Watch
Monitor capex execution and ROI
Track whether the ₹18.13 Cr capex in electrical heating and cable solutions delivers revenue growth in FY27–28 and maintains the 30%+ PAT CAGR. Any slowdown in margin or capex delays would signal execution risk in a niche, capital-intensive business.
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "Tempsens Instruments (India) Limited" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹444.88 Cr
Net Profit
₹71.07 Cr
Industry
Other Electrical Equipments
Issue Type
Fresh Issue & OFS
Promoters
VIRENDRA PRAKASH RATHI, VINAY RATHI AND PRATAP SINGH TALESARA
Lead Managers
ICICI Securities and JM Financial
Quick Actions
Frequently Asked Questions
Subscribe. The company trades at 1.54× sector midpoint with 15.6% net margin and 31.8% PAT CAGR, meeting Subscribe criteria. Strong 184× subscription and 75% GMP signal robust demand, though the 85.4% OFS component means most proceeds flow to promoters rather than the business.
GMP data is not yet available for this IPO. Check our GMP Live page for the latest updates closer to the listing date.
The minimum lot size is 1200 shares. At the upper band price of ₹300, the minimum investment per retail application is ₹360,000. You can apply for up to 13 lots (₹4,680,000) under the retail category (up to ₹2 lakh).
The IPO opens on 20 Aug 2026. It closes on 24 Aug 2026. Allotment is expected on 25 Aug 2026. Refunds initiate on 26 Aug 2026. Listing on BSE and NSE is on 28 Aug 2026.
The lead managers for the IPO are ICICI Securities and JM Financial. Check the SEBI filing for the registrar details.
The IPO listed on 28 Aug 2026 at ₹631.2 against an issue price of ₹300 (+110.4% on listing day). The current market price (CMP) is approximately ₹494.9 (+65% vs issue).
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 24 Aug 2026. The minimum investment is ₹360,000 for one lot (1200 shares). The company trades at 1.54× sector midpoint with 15.6% net margin and 31.8% PAT CAGR, meeting Subscribe criteria. Strong 184× subscription and 75% GMP signal robust demand, though the 85.4% OFS component means most proceeds flow to promoters rather than the business.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 24 Aug 2026. The IPO is priced at a P/E of 35.4x. Market cap at issue price is ₹2514.98 Cr. As with all IPOs, please read the DRHP and assess your own risk tolerance before investing.
You can apply via UPI through your broker's trading app (Zerodha, Upstox, Fyers, etc.) or via ASBA through your net banking portal. The minimum lot is 1200 shares at ₹300 each, costing ₹360,000 per application. The issue closes on 24 Aug 2026, so apply before that date. Step 1: Log in to your broker or bank app. Step 2: Go to IPO section and search for 'Tempsens Instruments (India) Limited'. Step 3: Enter the number of lots and UPI ID. Step 4: Accept the mandate on your UPI app.
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