The initial public offering (IPO) of Tempsens Instruments is set to make its stock market debut on Friday, Aug. 28. Ahead of its listing on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), GMP trends indicate that the stock could list at a substantial premium to its issue price.
Here is everything you need to know about the Tempsens Instruments IPO before trading begins.
Tempsens Instruments IPO Expected Listing Price
The Grey Market Premium (GMP) for Tempsens Instruments (India) IPO was reported at Rs 330 as of 8:00 a.m. on Aug. 28. With the upper price band of Rs 300, the estimated listing price of the IPO is Rs 630 (cap price + today's GMP). This indicates an implied listing premium of 110% over the issue price.
Note: GMP is entirely unofficial, based on speculative unlisted market demand, and does not guarantee the actual listing price.
Tempsens Instruments IPO Final Subscription Status
The IPO, which ran from Aug. 20 to Aug. 24, was oversubscribed a massive 184.07 times by the third and final day of bidding on Aug. 24.
The category-wise subscription breakdown is as follows:
- Qualified Institutional Buyers (QIBs): 302.88 times
- Non-Institutional Investors (NIIs): 314.44 times
- Retail Individual Investors (RIIs): 60.69 times
- Employee Reserved Portion: 124.95 times
The shares allotment of Tempsens Instruments (India) IPO was finalized on Aug. 25.
Tempsens Instruments IPO Listing Date
Shares of Tempsens Instruments (India) IPO will list on NSE and BSE with a tentative listing date fixed as Friday, Aug. 28.
Tempsens Instruments IPO Details
The Tempsens Instruments (India) IPO is a book-built issue of Rs 650 crore. The public issue comprises:
- Fresh Issue: 31.67 lakh equity shares worth Rs 95 crore
- Offer-For-Sale (OFS): 1.85 crore equity shares worth Rs 555 crore
The final issue price for the IPO was set at Rs 300 per share. Retail investors were required to bid for a minimum lot size of 50 shares, translating to a minimum investment of Rs 15,000 at the upper end of the price band.
ICICI Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Tempsens Instruments IPO: Use Of Proceeds
The company plans to use the net proceeds for funding certain capital expenditure of the company towards the electrical heating solutions and specialized cable solutions (Rs 18.13 crore)
The remaining amount will be used for the pre-payment or scheduled re-payment, in full or in part, of certain outstanding borrowings availed by the company (Rs 55 crore), general corporate purposes (Rs 14.18 crore) and issue expenses (Rs 50.65 crore).
Disclaimer: Investments in IPOs are subject to market risks. Investors should read the red herring prospectus carefully and consult a financial adviser before making investment decisions.
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