Tempsens Instruments (India) IPO is a mainboard IPO raising ₹650 Cr at ₹285 – ₹300 a share. It listed on 28 Aug 2026 at ₹634, +111.3% against its issue price of ₹300, and trades at ₹581 today (+93.8% since issue). It was subscribed 184× in total.
184.1 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Read from the 616-page prospectus. Indian prospectuses list hundreds of risk factors, most of them generic boilerplate. These are the 14 specific to this company; 278 generic ones were skipped. Every one is quoted verbatim with its page, so you can check it against the document.
of which ten are located in Udaipur, India... our Corporate Office is also located in Udaipur, Rajasthan, India... Unlike companies with geographically diversified manufacturing footprints across multiple regions or states in India, our concentration in a single region limits our ability to quickly shift production to alternative domestic locations
Purchases from top supplier, i.e., India Trade Link Private Limited 541.51 20.77 532.92 25.51 379.14 22.91
Due to the full-year consolidation of Marathon Heater's results in Fiscal 2025 and the impact of the acquisitions of Tempsens Instruments GmbH and Tempsens Polska sp. z o.o. in Fiscal 2026, our business and financial metrics for these periods differ materially from those reported in prior periods.
Our business is more dependent on Projects/OEM business which contributed 67.55%, 69.16%, and 63.99% of our revenue from operations... 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
our performance is influenced by demand trends in certain end-user industries, in particular, metal and petro chemical industries which collectively contributed 41.13%, 42.90%, and 41.52% of our revenue from operations
Working capital loans (₹ million) 643.49 587.49 197.78 ... Inventory Days 170 157 125
Unit I ... 58.14 ... Unit II Electrical Heating Solutions 49.60 ... Subsidiary: Tempsens Instruments GmbH 20.64 ... Step-Down Subsidiary: Tempsens Polska Sp. z o.o., Poland 18.47
We have acquired 50.00% of the share capital of Tempsens Instruments GmbH, Germany, from our Promoter and Managing Director, Vinay Rathi, and Basant Rathi ... consideration for 0.01% of the shares of Tempsens Instruments GmbH, amounting to EUR 153, remains pending payment.
we do not have unilateral decision-making power over the operations of our joint ventures and/or subsidiaries. Instead, we must work in collaboration with our partners to approve and implement these decisions
Our approach to international expansion is heavily dependent on joint ventures ('JVs') and similar partnerships... we expect to continue to pursue international opportunities through this model in the future
Our business operations involve dealings with government entities, including those in sensitive sectors such as defence and space. ... Failure to obtain required security clearances, meet local content requirements, or maintain technical accreditations may prevent us from bidding for, being awarded, or executing such contracts.
We are unable to trace certain of our historical corporate records and statutory filings made with the relevant registrar of companies or acknowledgements for some of the filings made with the relevant registrar of companies
In the past, certain of our manufacturing units have exceeded the permitted capacity provided by the relevant pollution control board under the consent to operate.
we have made sales to customers in Russia during each of the last three financial years, and we maintain intellectual property rights registered in Russia. Our exposure to the Russian market and registration of intellectual property rights in Russia may increase our compliance risks, including those relating to sanctions, export controls and reputational considerations
Extracted from the issuer’s own prospectus and ranked by how specific and material each risk is to this company. Severity is our assessment of the disclosure, not a prediction — and nothing here is a recommendation to apply to this issue.
The issuer’s own summary of outstanding legal proceedings — SEBI requires this table in every prospectus. Counts and amounts are as disclosed; the disclosed aggregate at stake is ₹1.1 Cr.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 10 | 6 | 5 | ₹2.1 Cr |
| Promoters | 1 | 0 | 3 | ₹0.6 Cr |
| Directors | 2 | 0 | 2 | ₹0.8 Cr |
| Subsidiaries | 2 | 0 | 1 | ₹11 Cr |
| Group companies | 0 | 0 | 0 | ₹0.0 Cr |
Tempsens Measurement and Control Private Limited faces Theia New Consultancy LLP’s Section 9 commercial arbitration application over alleged non-solicitation and confidentiality breaches; ₹110.41 million interim relief is sought.
Marathon Heater, amalgamated into the Company, and Vinay Rathi seek to set aside District Collector orders requiring a ₹6.49 million deposit concerning transfer of land.
The Company has six pending Section 138 cheque-bounce cases to recover ₹2.05 million from clients and debtors.
Subsidiary Tempsens Measurement filed a Section 138 complaint over two dishonoured cheques aggregating ₹1.76 million.
Durga Shankar Paliwal’s criminal petition against Virendra Prakash Rathi and Vinay Rathi concerns alleged failure to take disciplinary action against employees; show-cause notices have been issued and the matter is pending.
Monetary figures are converted using 1 crore = 10 million. Party amounts sum only the explicitly stated amounts attributed to disclosed matters; cross-referenced company, promoter and director matters may appear in multiple buckets. The stated ₹11.40 million grand total is tax-only; no grand total for all proceedings is stated.. Outstanding means unresolved — a listed case is an exposure, not a verdict.
What the issuer and the exchanges published. Everything else on this tab is read out of these.
The full prospectus — business, financials, risk factors and litigation.
Which institutions were allotted shares before bidding opened, and how many.
Where physical applications could be submitted.
The issuer's own "basis of issue price": the earnings multiples it is asking for, and the peer companies it chose to compare itself against.
The full prospectus — business, financials, risk factors and litigation.
