Shares of thermal engineering and specialised cable manufacturer Tempsens Instruments (India) more than doubled in their trading debut on Friday, the biggest listing gain on domestic exchanges this year, after the company’s $68 million IPO drew overwhelming investor demand.
The stock listed at 634 rupees, 111.3% above the issue price, with the company valued at 53.15 billion rupees ($556.30 million).
The strong debut makes Tempsens India’s biggest listing gainer so far in 2026, surpassing Bharat Coking Coal’sBARC.NS 95.7% debut surge in January.
Tempsens’ IPO was fully subscribed within hours of its launch last week; it was overall subscribed 184 times by the end of three days of bidding this week.
“Given its strong revenue growth, diversified product portfolio and expanding international presence, the company may command a valuation premium,” Anand Rathi Share and Stock Brokers said in a note last week.
Tempsens’ IPO consisted of a fresh issue of shares worth 950 million rupees and an offer for sale of 5.55 billion rupees.
($1 = 95.5425 Indian rupees)
Reuters
