The company’s shares listed at Rs 631.20 on BSE and Rs 634 on NSE, when compared to issue price of Rs 300.
Tempsens came out with a Rs 650 crore initial public offering, which comprised of fresh issue of Rs 95 crore and offer for sale of Rs 555 crore. The issue was subscribed 184.07 times.
The company plans to use the proceeds from the offering for capital expenditure in electrical heating and specialised cable solutions, debt repayment and general corporate purposes.
Tempsens, along with its subsidiaries and Joint Ventures, have a manufacturing presence across 6 countries and serves a wider range of industries that demand advanced thermal solutions.
Shares gave up some gains and was last trading at Rs 581.60.
