Tempsens ₹650-cr IPO fully subscribed within 1 hour; GMP at 73%

Tempsens Instruments (India)'s ₹650-crore IPO opened for subscription on Thursday and was fully subscribed within the first hour of bidding. Ahead of the issue, the latest grey market premium (GMP) stood at ₹220, indicating an estimated listing gain of nearly 73% over the upper price band of ₹300. The IPO comprises a fresh issue of shares and an offer-for-sale.