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Tempsens Instruments
· NSE upcoming
Opens tomorrow · 20 Aug 2026
₹200
GMP* · 19 Aug, 06:20 pm
Price Band
₹285 – ₹300
Issue Size
₹650 Cr
1 lot at upper band
₹15,000
Lot Size
50
Open
20 Aug 2026
Close
24 Aug 2026
Allotment
—
Listing
28 Aug 2026
Scheduled dates
- Open20 Aug 2026
- Close24 Aug 2026
- Refund27 Aug 2026
- Demat credit27 Aug 2026
- Listing28 Aug 2026
GMP Trend*
Daily grey market premium (₹). Unofficial.
Latest GMP: ₹200 5 sessions
Subscription (times)
Latest per-category subscription.
Bidding hasn't opened yet — subscription starts once the issue opens.
About Tempsens Instruments
The company is a thermal engineering and specialised cable manufacturer engaged in the design and manufacture of customized temperature sensing solutions, electrical heating solutions and specialised cables. The company is the largest manufacturer of contact and non-contact temperature sensors in India in terms of revenue as of March 31, 2026, with a market share of approximately 10.5% in the temperature sensor segment in Fiscal 2026. The company operates through three core verticals: temperature sensing solutions, electrical heating solutions and specialised cables, serving diverse industries including power generation, steel, aluminium, railway, pharmaceutical, food, aerospace, defence, nuclear, glass, and petrochemical sectors.
www.tempsens.com ↗Strengths
- Largest Manufacturer of Contact and Non-Contact Temperature Sensors in IndiaThe company is the largest manufacturer of contact and non-contact temperature sensors in India in terms of revenue with approximately 10.5% market share in Fiscal 2026, and the only Indian manufacturer of non-contact temperature sensors with approximately 21.3% market share.
- Diversified Business Model with Broad Product PortfolioThe company operates a diversified business model with product offering expanded from seven categories in Fiscal 2020 to 13 categories in three verticals during Fiscal 2026, serving diverse end-user industries including power, steel, oil and gas, cement, chemicals, plastics, automotive, defence and space.
- Established Research and Development CapabilitiesThe company maintains a dedicated R&D team of 83 employees as of March 31, 2026, with active intellectual property portfolio including 12 patents in India, eight registered trademarks in India, and 39 trademark registrations across various jurisdictions outside India.
- Global Presence Through Strategic Alliances and Export SalesThe company has established broad global presence through subsidiaries and joint ventures, exporting products to more than 80 countries between April 1, 2023 and March 31, 2026, with export sales showing substantial CAGR of 46.49% between Fiscals 2024 and 2026.
- Integrated Global Operations with Backward IntegrationThe company operates 15 manufacturing units across the world with comprehensive backward integration, controlling every stage of production from alloy melting and wire drawing to fabrication, assembly and calibration, enabling quality control and operational efficiency.
- Operations Led by Experienced Management TeamThe company's operations are guided by multi-generational leadership team with many KMPs and Senior Management associated for an average 15 years each as of March 31, 2026, providing continuity in vision and strategic growth.
Risk Factors
- Heavy Dependence on Projects/OEM BusinessThe company is heavily dependent on Projects/OEM business which contributed 67.55%, 69.16%, and 63.99% of revenue from operations for Fiscals 2026, 2025, and 2024 respectively. These orders typically have high entry barriers and long sales cycles, and their timing and volume can be affected by broader economic or market conditions.
- Concentration Risk in Key End-User IndustriesThe company's performance is influenced by demand trends in metal and petrochemical industries which collectively contributed 41.13%, 42.90%, and 41.52% of revenue from operations for Fiscals 2026, 2025, and 2024 respectively. Negative developments in these sectors may materially affect business operations.
- Raw Material Supply Chain VulnerabilitiesThe company faces significant volatility, increases, fluctuations, shortages, or delays in the supply of primary raw materials which may adversely impact business operations, particularly for project-specific or custom orders. Raw material costs can fluctuate significantly due to volatility in commodity markets and crude oil prices.
- Supplier Concentration and Supply DisruptionsThe company depends on a limited group of suppliers with the top supplier accounting for 20.77%, 25.51%, and 22.91% of purchases in Fiscals 2026, 2025, and 2024 respectively. Most sourcing is carried out through purchase orders rather than binding long-term supply agreements, exposing the company to supply disruption risks.
- Geographic Manufacturing Concentration RiskThe company has significant concentration of manufacturing units at Udaipur in Rajasthan, India with ten out of fifteen manufacturing units located there. This creates substantial concentration risk as any region-specific disruption could simultaneously impact multiple manufacturing units and severely disrupt overall production capacity.
- Joint Venture and International Operations RisksThe company's reliance on subsidiaries and joint ventures for international market entry exposes it to operational and strategic risks. Joint ventures involve shared ownership and decision-making with third-party partners, and differences in strategic priorities may lead to disagreements or delays in decision-making.
- Capital Intensive Business with Substantial Working Capital RequirementsThe company has substantial capital expenditure and working capital requirements with working capital loans of ₹643.49 million, ₹587.49 million, and ₹197.78 million as of March 31, 2026, 2025, and 2024 respectively. The company may require additional capital and financing in the future.
- Government Contract Dependencies and Regulatory RisksThe company's business operations involve dealings with government entities, including those in sensitive sectors such as defence and space. Any delay, modification, cancellation, or adverse change in government policies, procurement processes, or regulatory requirements could materially affect business operations.
Objects of the Issue
- Funding certain capital expenditure towards electrical heating solutions and specialized cable solutionsThe company intends to utilize funds for capital expenditure to procure new machinery and equipment, expanding existing installed capacity across electrical heating solutions vertical in Unit VI and specialized cable solutions vertical in Unit IV, and undertake civil and building work for construction of sheds and related infrastructure in Unit VI.18.13 crores
- Pre-payment or scheduled re-payment of certain outstanding borrowingsThe company intends to utilize funds towards pre-payment or scheduled re-payment, in full or in part of certain outstanding borrowings availed by the company to reduce outstanding indebtedness, debt servicing costs, improve financial position and debt-to-equity ratio.55.00 crores
- General corporate purposesThe company proposes to utilize funds for general corporate purposes including payment of commission and fees to consultants, meeting ongoing corporate exigencies, business development initiatives, salaries, administration, insurance, repairs and maintenance, payment of taxes and duties.
Financial Snapshot
Annual values as reported in the offer document.
| Year end | Revenue | Rev. growth | Profit | Profit growth | Assets | Equity | Operating cash flow |
|---|---|---|---|---|---|---|---|
| 31/03/2026 | 455.86 | +19.2% | 71.07 | +13.6% | 661.05 | 525.48 | 42.02 |
| 31/03/2025 | 382.47 | +37.6% | 62.55 | +52.9% | 551.28 | 441.68 | 54.15 |
| 31/03/2024 | 278.04 | — | 40.92 | — | 271.14 | 204.81 | 37.09 |
Units: crores
Issue Details
- Face Value
- ₹4
- P/E
- 45.60
- ROCE
- 19.00%
- Shares / Lot
- 50
- Minimum Bid
- 50 shares
- Refund
- 27 Aug 2026
- Credit to Demat
- 27 Aug 2026
- ISIN
- INE1KZI01025
- CIN
- U31402GJ1990PLC149769
- Registrar
- Kfin Technologies Ltd.
- Lead Managers
- ICICI Securities Ltd.
- Registered Office
- TF-304, Florence Classic, 10, Ashapuri Society, Akota, Vadodara 390 020, Gujarat, India
Management
Virendra Prakash RathiCEO
Vinay RathiMD
Ankit TalesaraDirector
Pratap Singh TalesaraDirector
* Grey Market Premium is unofficial, indicative data from unregulated grey-market dealers. It is not published by NSE, BSE, SEBI or the issuer, and is not a forecast of the listing price.