Shares of ESDS Software Solutions and Tempsens Instruments, who made their stock market debut one Friday apart, have become the only two IPOs of 2026 that have doubled from their issue price on the day of their listing.
ESDS Software made their debut on Friday, September 4, at a 76% premium to their issue price of ₹429 per share. The stock extended its gains to now trade at a 112% premium in comparison to its issue price.
The three-day IPO of ESDS Software was subscribed 143 times the total number of shares on offer. The portion reserved for both institutional and non-institutional investors was subscribed over 200x, with the QIB portion seeing 275x subscription, while the non-institutional portion seeing 203x bids. The retail portion also received bids for 39x the total number of shares reserved for them.
ESDS’ ₹720 crore issue was a 100% fresh offering. The company says it is one of the only two Indian companies providing the full spectrum of GPUaaS, cloud, managed services, data center infrastructure and software solutions. While Infrastructure as a Service (IaaS) accounts for 44% of the overall topline, managed services accounts for 41%. Software as a Services accounts for the remaining 15%.
Tempsens Instruments, which listed last Friday, is a thermal engineering and specialized cable manufacturer, which is also engaged in the design and manufacturing of customized temperature sensing solutions, electrical solutions and specialized cables.
It is one of the largest manufacturers of electrical heaters in India in terms of installed capacity as of March 31, 2026, and is also one of the few players with the capability to manufacture low-voltage process heaters, with ongoing R&D on medium-voltage heaters.
The ₹650 crore IPO, which was a fresh issue of ₹95 crore and the rest being an Offer For Sale (OFS), was subscribed 184 times the shares on offer.
Subscription was led by institutional investors, whose overall portion received 302x the overall quota, while the non-institutional investors portion as subscribed 314x. Retail portion was also subscribed 60x.
Having made their stock market debut at ₹634, compared to the issue price of ₹300 apiece, shares of Tempsens Instruments have seen some profit booking, to now trade at ₹558.35.
Both Tempsens and ESDS have added to the growing IPO performance after the month of June, where the average listing premium has risen to 20%, compared to just 1.4% for listings that took place in the first six months of the year.
