Tempsens Instruments (India) opens its IPO today, August 20. The mainboard issue is worth Rs. 650 cr., with a price band of Rs. 285–300 per share. The issue comprises a fresh issue of up to Rs. 95 cr. and an offer for sale of Rs. 555 cr., and will remain open until August 24.
The company specialises in thermal engineering products and specialised cables. Its exposure to industrial customers and exports makes it an interesting offering, although investors should also consider valuation and customer concentration. The reported grey-market premium is strong, but GMP is unofficial and can change rapidly.
