Tempsens Instruments Files IPO Papers: Fresh Issue of ₹118 Crore and OFS of 1.79 Crore Shares

September 30, 2025 – Tempsens Instruments (India) Ltd has filed draft papers for an initial public offering (IPO) comprising a fresh issue of ₹118 crore and an offer for sale (OFS) of up to 1,79,25,071 equity shares of face value ₹4 each. The equity shares are proposed to be listed on BSE and NSE. ICICI Securities and JM Financial are the book-running lead managers, while KFin Technologies is the registrar.

IPO Snapshot

The IPO include a fresh issue of shares worth ₹118 crore and an offer for sale (OFS) of 1,79,25,071 equity shares of face value ₹4 each. The OFS will be carried out by existing shareholders Amit Talesara, Puneet Talesara, Chandra Prakash Talesara, Ankit Talesara, and Nirmal Kumar Pande.

The IPO price band, opening date, and closing date have not yet been announced. The company’s equity shares will be listed on both the BSE and NSE. An employee reservation of up to 5% of post-issue capital has been proposed, along with a pre-IPO placement of up to ₹23.60 crore, if undertaken. ICICI Securities and JM Financial are acting as the book-running lead managers (BRLMs) to the issue. KFin Technologies will serve as the registrar.

Objects of the Issue

The company plans to utilise net proceeds from the fresh issue as follows:

• Capex for electrical heating and specialised cable solutions: ₹353.79 million
• Prepayment or repayment of certain borrowings: ₹550.00 million
• General corporate purposes

A pre-IPO placement of up to ₹23.60 crore may also be considered, which would proportionately reduce the fresh issue size.

Financials Snapshot (Consolidated)

For FY25, Tempsens Instruments (India) Ltd reported revenue from operations of ₹378.53 crore (₹3,785.26 million), reflecting healthy business momentum. The company reported a profit after tax (PAT) of ₹62.56 crore (₹625.55 million), resulting in a PAT margin of 16.36%.

Operating performance remained strong, with EBITDA at ₹97.32 crore (₹973.22 million). On the balance sheet front, the company posted a net worth of ₹430.63 crore (₹4,306.29 million), supported by borrowings of ₹71.83 crore (₹718.30 million). In terms of shareholder metrics, the company recorded a basic and diluted EPS of ₹7.51 (on a face value of ₹4 per share) and a net asset value (NAV) per share of ₹53.33.

Offer Structure and Selling Shareholders

The OFS will be executed by the following shareholders:

• Amit Talesara offering 36.36 lakh shares
• Puneet Talesara is offering 33.80 lakh shares
• Chandra Prakash Talesara is offering 36.35 lakh shares
• Ankit Talesara is offering 36.35 lakh shares
• Nirmal Kumar Pande is offering 36.35 lakh shares

This OFS will enable the promoters and shareholders to partially monetise their investments while facilitating the company’s listing on the stock exchanges. Additionally, up to 5% of the post-issue capital has been reserved for employees.

What to Watch

• Revenue Mix: Projects/OEMs accounted for 69.16% of FY25 revenue.
• Sector Exposure: Metals and petrochemicals contributed 42.90% of revenue.
• Raw Material Risks: High reliance on commodity-linked inputs and select suppliers.
• Geographic Risks: Manufacturing is concentrated in Udaipur, Rajasthan.
• Comparability: FY25 numbers are impacted by the amalgamation of Marathon Heater.

Company Background

Tempsens is engaged in thermal engineering and specialised cable solutions, manufacturing customised temperature sensing devices, electrical heating systems, and specialised cables. The company operates 11 manufacturing units, eight in India and three overseas through its subsidiaries and joint ventures.

Promoters: Virendra Prakash Rathi, Vinay Rathi, and Pratap Singh Talesara.

REF: https://nsearchives.nseindia.com/corporate/Registration_29092025235356_TIPLDRHP.pdf

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