Four IPOs are currently in the market, offering investors a mix of opportunities across jewellery retail, media and entertainment, and industrial warehousing. Shankesh Jewellers and Sunshine Pictures closed for subscription today, 20 August, while Gaja Alternative Asset Management and Tempsens Instruments are still active. Subscription trends show a clear divergence in investor appetite: Sunshine Pictures achieved exceptional 61.18 times subscription, while Shankesh Jewellers managed only 1.66 times subscription. The ₹650-crore Tempsens Instruments IPO was fully subscribed within 45 minutes of opening, reaching 4.19 times subscription, while Gaja Alternative Asset Management stands at 1.88 times on its second day of bidding. Tempsens Instruments has now achieved 21.65 times subscription as of 17:00 IST on August 21, demonstrating sustained strong investor interest with bids received for 32.86 crore shares against 1.51 crore shares on offer.
Tempsens Instruments IPO has emerged as the strongest performer with an impressive GMP of ₹270, translating to an estimated listing price of ₹570 and a potential listing gain of 90%. The ₹650-crore issue launched on August 20 and achieved full subscription within hours of opening, with shares priced in the ₹285-300 band. The ₹650-crore book-built public offer includes a fresh issuance of equity shares worth ₹95 crore, alongside an offer-for-sale (OFS) of ₹555 crore by existing shareholders. Investors can bid within a price band of ₹285 to ₹300 per share, with the minimum lot size of 50 shares requiring a minimum investment of ₹15,000 for retail participants at the ceiling price. The basis of allotment is likely to be finalised by August 25, paving the way for a targeted listing on NSE and BSE on August 28. The company specialises in thermal engineering, manufacturing tailored electrical-heating, temperature-sensing, and specialised cable products.
Ahead of the IPO, Tempsens Instruments raised ₹194.54 crore from anchor investors on August 19, 2026, with the board allotting 64.84 crore shares at ₹300 each to 29 anchor investors. This strong anchor investor response demonstrates institutional confidence in the company's growth prospects. The ₹650-crore issue comprises both fresh issue of equity shares of face value ₹4 each aggregating up to ₹95 crore and an offer for sale of up to 18,500,000 equity shares of face value ₹4 each. Of the net proceeds, the company intends to use ₹18.134 crore towards funding certain capital expenditure towards electrical heating solutions and specialized cable solutions, ₹55 crore towards prepayment of certain borrowings and balance towards general corporate purposes. The issue will close on August 24, 2026.
Tempsens Instruments reported consolidated net profit of ₹71.07 crore and sales of ₹444.88 crore for the twelve months ended March 31, 2026. The company operates as a thermal engineering and specialised cable manufacturer, engaged in the design and manufacture of customized temperature sensing solutions, electrical heating solutions and specialised cables. In FY26, the company's revenue mix remained diversified across product segments, with temperature sensing solutions contributing 44.59% of revenue, followed by specialized cables at 34.71% and electrical heating solutions at 20.70%. From a business model perspective, MRO accounted for 32.45% of FY26 revenue, while the remaining 67.55% was contributed by projects/OEM business. From an end-user industry perspective, petrochemicals constituted the largest revenue contributor at 21.45%, followed by metals (19.68%) and power (12.27%).
Based on latest GMP data, Tempsens Instruments significantly outperforms all competitors with a 90% implied listing gain, followed by Sunshine Pictures at 21.67% and Gaja Alternative Asset Management at 11.56%. Shankesh Jewellers maintains the lowest position with just 1.08% potential upside. Both mainboard IPOs are scheduled to be listed on BSE and NSE on Tuesday, August 25. Sunshine Pictures demonstrates superior market response with 105.81 times subscription versus 2.80 times for Shankesh Jewellers. The Tempsens Instruments issue will close on August 24, with allotment on August 25 and listing on August 28, while Gaja Alternative Asset Management maintains its August 24 allotment schedule. It's important to note that GMP is unofficial and can change before listing, so investors should not use it as the sole basis for investment decisions.
