In the closing hours of its public offering on August 24, Tempsens Instruments — a four-decade-old maker of temperature sensors and industrial cables — found itself oversubscribed more than twenty-one times, a measure of how hungrily markets reach for the tangible and the proven. The Rs 650-crore IPO drew retail and institutional investors alike, not with promises of disruption, but with the quieter appeal of steady profits, global reach, and a product that keeps industrial civilization running. Yet as the grey market whispered of a 105 percent premium and analysts counseled patience over spec