- Tempsens Instruments' grey market premium has surged past 100%, marking the first IPO in nearly two years to hit that mark, with a GMP of ₹301 over its ₹300 issue price.
- The ₹650 crore IPO was subscribed nearly 22 times on day two, and the issue closes today.
- Aditya Birla Group is in advanced talks with domestic lenders led by Axis Bank to raise ₹14,000 crore via loan syndication.
- The funds will finance the acquisition of Shell's Indian renewable platform Sprng Energy, valued at an enterprise value of ₹17,200 crore.
- The loan could run up to 20 years at around 7.7% pricing, marking one of India's largest renewable energy deals by value and scale.
Tempsens Instruments' IPO has made headlines as its grey market premium has surpassed 100%, a significant milestone not seen in nearly two years. The IPO, priced at ₹300, commands a premium of ₹301, reflecting strong investor interest with a subscription rate of nearly 22 times on its second day.
In parallel, the Aditya Birla Group is in advanced discussions with domestic lenders, led by Axis Bank, to secure a substantial ₹14,000 crore loan. This financing will support the acquisition of Shell's Indian renewable platform Sprng Energy, which has an enterprise value of ₹17,200 crore. The loan is expected to have a term of up to 20 years at an interest rate of approximately 7.7%, positioning it as one of India's largest renewable energy transactions by both value and scale.34
The successful launch of Tempsens' IPO and the strategic move by Aditya Birla Group highlight the growing momentum in India's financial and renewable energy sectors, signaling robust investor confidence and a shift towards sustainable energy solutions.
“The Rs 650 crore IPO was subscribed nearly 22 times on day two, with the issue closing today. The Aditya Birla loan, led by Axis Bank with SBI and HDFC Bank evaluating commitments, could run up to 20 years at around 7.7% pricing.”
