| Price | Lot Size | Issue Date | Issue Size |
|---|---|---|---|
| ₹285 to ₹300 | 50 | 20th Aug, 2026 – 24th Aug, 2026 | ₹650 Cr |
Tempsens Instrument Ltd.
Tempsens Instruments (India) Limited is a thermal engineering and specialised cable manufacturer with over three decades of experience, designing and manufacturing customised temperature sensing solutions, electrical heating solutions, and specialised cables. Its product portfolio includes thermocouples, RTDs, infrared pyrometers, thermal imagers, thermowells, temperature transmitters, electrical heaters, furnaces, instrumentation cables and thermocouple cables, catering to end-user industries including metals, power, oil & gas, chemicals, cement, glass, automotive, pharmaceuticals, defence and renewables. The diversified product portfolio enables the company to address varied thermal management and industrial connectivity requirements, while reducing dependence on a single product category. In FY26, temperature sensing solutions, specialised cables and electrical heating solutions contributed 44.6%, 34.7% and 20.7%, respectively, to revenue from operations. The company, together with its subsidiaries and joint ventures, operates 15 manufacturing units, including 10 units in Udaipur, India and five overseas facilities across the UAE, South Korea, Indonesia, Germany and Poland, providing a geographically diversified manufacturing footprint and supporting local customer servicing. In FY26, revenue from operations stood at Rs. 4,448.8 million, while the company served more than 3,800 customers across multiple industries; its top 10 customers contributed only 18.6% of revenue, indicating low customer concentration. Export sales contributed 28.5% of revenue from operations, with the company having sold its products in more than 80 countries between FY24 and FY26. The company is focused on strengthening its backwards-integrated manufacturing capabilities, expanding its international presence, developing advanced thermal sensing and heating solutions and increasing cross-selling across its diversified customer base. Its in-house capabilities, including alloy melting, rolling, cable manufacturing, machining, assembly and calibration, along with strong R&D and product certifications, provide a foundation for customised solutions, quality control and continued product innovation.
Objective of Tempsens Instrument Ltd.
The IPO comprises a Fresh Issue of up to Rs.95 crores and an Offer for Sale of up to Rs.555 crores. The Net Proceeds from the Fresh Issue are proposed to be utilized for the following purposes:
- Funding capital expenditure towards electrical heating solutions and specialized cable solutions.
- Pre-payment and/or scheduled repayment, in full or part, of certain outstanding borrowings
- General corporate purposes.
Rationale To Tempsens Instrument Ltd.
Investment Rationale
Global manufacturing and distribution footprint supporting international market expansion
The company has established a strong international presence through a combination of subsidiaries, joint ventures, manufacturing facilities and distribution relationships across key markets. Together with its joint ventures, the company operates 15 manufacturing units globally, including 10 facilities in India and five overseas facilities across the UAE, South Korea, Indonesia, Germany and Poland. This geographically diversified manufacturing network enables the company to stay close to customers, meet local technical and regulatory requirements, and provide faster service and support across international markets. The company is further supported by a network of 28 distributors as of March 31, 2026, through which it distributed its products to more than 80 countries between April 2023 and March 2026. Its overseas subsidiaries and joint ventures provide local sales, technical support and assembly capabilities, allowing the company to leverage regional market knowledge and strengthen customer relationships. The company has also expanded its international capabilities through the acquisition of Tempsens Instruments GmbH, which became a subsidiary in January 2026, providing access to established operations in Germany and Poland. Further, the company is expanding its sales presence in Mexico, with the entity incorporation and registration process completed. The combination of a global manufacturing base, local market presence, an established distribution network, and strategic international partnerships provides the company with greater market access, improves delivery capabilities, and supports its ability to capture growth opportunities across international markets.
Integrated R&D and manufacturing capabilities enabling customised, high-value solutions
The company has developed integrated R&D and manufacturing capabilities across temperature sensing solutions, electrical heating solutions and specialised cables, enabling it to provide customised products for technically demanding applications. As of March 31, 2026, the company had a dedicated R&D team of 83 employees, with R&D expenditure increasing to Rs. 5.56 crores in FY26 from Rs. 3.40 crore in FY25 and Rs. 1.54 crores in FY24. Its multidisciplinary R&D capabilities span mechanical, electrical and thermal engineering. Advanced testing infrastructure and accredited laboratories support these capabilities, enabling the company to design and validate products in line with stringent customer and international standards. The company has developed specialised products such as fibre optic temperature sensors, aerospace-grade cables and catalyst bed heaters for space applications, while its ongoing product pipeline includes mid-voltage heaters, slot resistance temperature detectors, high-precision infrared pyrometers and online thermal imagers. Its R&D capabilities are further complemented by backward integration across critical manufacturing processes, including alloy melting, rolling, drawing, heat treatment, cable manufacturing and precision machining. This integrated manufacturing approach provides greater control over product quality, enables customised solutions and supports shorter lead times. 12 patents in India reinforce the company’s technical capabilities, along with eight registered trademarks in India and 39 trademark registrations across overseas jurisdictions; its products also hold certifications such as ATEX, IECEx, UL, CE, BIS, and PESO, which are often required for participation in regulated and specialised industries. The combination of in-house R&D, backward integration, technical know-how and product certifications creates meaningful entry barriers. It strengthens the company’s ability to develop differentiated solutions for customers across critical industrial, defence, aerospace and energy applications.
Valuation of Tempsens Instrument Ltd.
Tempsens Instruments (India) Limited is an established thermal engineering and specialised cable manufacturer, offering customised temperature sensing solutions, electrical heating solutions and specialised cables. The company has a diversified product portfolio catering to customers across metals, oil & gas, power, automotive, chemicals, defence, renewables and other end-user industries. Its strong market position, customised product capabilities, established customer relationships and global presence provide a solid foundation for long-term growth. The Indian industrial automation, manufacturing and engineering sectors offer structural growth opportunities, supported by rising industrial capex, increasing automation, localisation and growing demand for specialised sensing and heating solutions, which could benefit organised players such as Tempsens. On the financial front, the company has demonstrated strong operating performance, with Revenue/EBITDA/PAT increasing from Rs.275 Cr/Rs.55 Cr/Rs.41 Cr in FY24 to Rs.445 Cr/Rs.100 Cr/Rs.71 Cr in FY26, translating into CAGRs of approximately 27.2%/34.9%/31.7%, respectively. The company has also maintained healthy profitability, with EBITDA margin improving from 20.0% in FY24 to 22.5% in FY26. At the upper price band of Rs.300, the issue is valued at approximately 36.0x FY26 diluted EPS of Rs.8.3. While the strong earnings growth and favourable industry outlook provide some support to the premium valuation, the multiple remains relatively demanding. Considering the company’s strong growth prospects, we recommend a “SUBSCRIBE” rating with a long-term investment horizon.
What is the Tempsens Instrument Ltd IPO?
The initial public offer (IPO) of Tempsens Instrument Ltd an early investment opportunity in. A stock market investor can buy Tempsens Instrument Ltd IPO shares by applying in IPO before Tempsens Instrument Ltd shares get listed at the stock exchanges. An investor could invest in Tempsens Instrument Ltd for short term listing gain or a long term.
How to apply for the Tempsens Instrument Ltd IPO through StoxBox?
To apply for the Tempsens Instrument Ltd IPO through StoxBox one can apply from the website and also from the app. Click here
When will the Tempsens Instrument Ltd IPO open?
Tempsens Instrument Ltd IPO is opening on 20th Aug 2026. Apply Now
What is the lot size of the Tempsens Instrument Ltd IPO?
The Lot Size of Tempsens Instrument Ltd 50 equity shares. Login to your account now.
When is the Tempsens Instrument Ltd IPO allotment date?
The allotment Date for Tempsens Instrument Ltd IPO is 25th Aug 2026. Login to your account now.
When is the Tempsens Instrument Ltd IPO listing date?
The listing Date for Tempsens Instrument Ltd is 28th Aug 2026. Login to your account now
What is the minimum investment required for the Tempsens Instrument Ltd IPO?
In the Retail segment the minimum investment required is Rs 15,000 Login to your account now
What is the maximum investment allowed for Tempsens Instrument Ltd IPO?
In the Retail segment the maximum investment requirement Rs 1,95,000 Login to your account now
When will the Tempsens Instrument Ltd IPO shares be credited to my Demat account?
The Tempsens Instrument Ltd will be credited to the account on allotment date which is 27th Aug 2026. Login to your account now
Where can I find the Tempsens Instrument Ltd IPO prospectus?
The prospectus of Tempsens Instrument Ltd IPO prospectus can be found on the website of SEBI, NSE and BSE
