After nearly two years of muted enthusiasm for new share offerings, the Indian IPO market has reached a symbolic turning point — Tempsens Instruments has become the first offering in that span to cross a 100 percent grey market premium, trading at twice its official issue price in the informal market before even listing on an exchange. This threshold matters not merely as a number, but as a measure of collective confidence: investors are once again willing to compete for a place in line, trusting that what they are buying today will be worth more tomorrow. The drought that defined 2025 and muc