Tempsens Instruments shares more than doubled investors' money as they made their stock-market debut with a staggering premium of over 111 per cent as compared to the upper limit of the IPO's price band.
Tempsens Instruments share price listed at Rs 634 per share on the NSE, reflecting a premium of 111.33 per cent. On the BSE, the shares made their debut at Rs 631.20 per share, registering a premium of 110.40 per cent as compared to the IPO price.
However, the stock fell over 6 per cent after listing amid profit booking. Last seen, Tempsens Instruments shares were trading at Rs 592, down 6.7 per cent from the listing price. However, the stock was trading with a 96 per cent gain over the IPO price.
The company had set a price band at Rs 285-300 for its Rs 650 crore initial public offering. After the listing, the company's market capitalisation stood at Rs 5,291.52 crore.
Earlier, the issue got a massive 184.07 times subscription, getting an overwhelming response from investors during the August 20 to 24 bidding period.
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