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Russia's campaign was reportedly aimed at weakening President Maia Sandu and her pro-European Party of Action and Solidarity (PAS). View More
Expert explains whether an EOU can warehouse goods near Ahmedabad, the correct eway bill destination for exports and how to claim ITC on differential IGST View More
Bengaluru recorded 10.7 per cent year-on-year rental growth, followed by Delhi-NCR at 7.6 per cent and Mumbai at 4 per cent, as occupier demand remained healthy View More
Prashant Kishor’s ?73 crore property portfolio highlights why investors should balance real estate with equities, debt, gold and cash, while prioritising liquidity, diversification, risk management and long-term wealth creation. View More
Tempsens Instruments is preparing for its IPO launch on August 20, targeting an impressive Rs 650 crore in funding. Of this, Rs 18 crore will be allocated for capital investments while Rs 55 crore is designated for settling debts. Recognized as the largest producer of temperature sensors and specialized cables in India, Tempsens has shown substantial revenue and profit increases. View More
Rajasthan-based Tempsens Instruments, which is India’s largest manufacturer of contact and non-contact temperature sensors, is all set to launch its initial public offering (IPO) on August 20 to raise Rs 650 crore at a price band of Rs 285-300 per share. The company is raising Rs 95 crore through a fresh issue of shares, while Amit Talesara, Puneet Talesara, Chandra Prakash Talesara and the other selling shareholders will sell 1.85 crore equity shares worth Rs 555 crore through an offer for sale (OFS). This takes the total IPO size to around Rs 650 crore. The IPO will remain open for public bidding from April 20 to August 24, while the anchor book will open a day before, which is August 19. Investors can bid for a minimum of 50 equity shares, requiring an investment of Rs 15,000 at the upper price band, and in multiples thereafter. ICICI Securities and JM Financial are the book-running lead managers, and KFin Technologies is the registrar of the IPO. The equity shares are scheduled to be listed on BSE and NSE on August 28. Live Events How will Tempsens Instruments IPO proceeds be used? Tempsens Instruments aims to use Rs 18 crore from the fresh issue proceeds for funding certain capital expenditure towards the company’s electrical heating solutions, and specialized cable solutions, while Rs 55 crore will be used for pre-payment or scheduled re-payment, in full or in part, of certain outstanding borrowings, along with general corporate purposes. Also read | What Shah Rukh Khan, Madhuri Dixit and Sachin Tendulkar see in Purple Style Labs IPO? Here’s what DRHP reveals Tempsens Instruments is a thermal engineering and specialized cable manufacturer, which is engaged in the design and manufacturing of customized temperature sensing solutions, electrical heating solutions and specialized cables. It has a market share of nearly 10.5% in the temperature sensor segment. It is also the only Indian manufacturer of non-contact temperature sensors as of March 31, 2026, and held approximately 21.3% of the non-contact temperature sensor market share in fiscal 2026, the company said citing F&S report. Additionally, Tempsens is also 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. Together with its joint ventures, the company operates 15 manufacturing units across the world, of which ten are located in Udaipur. Tempsens reported revenue from operations at Rs 444.8 crore in FY26, as against Rs 274.8 crore in FY24. Its net profit was Rs 71 crore in FY26, compared to Rs 40.9 crore in FY24. Also read | Big Bull's magic: How Rakesh Jhunjhunwala turned Rs 1 crore into Rs 20 crore overnight after the 1989 budget (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Greaves Cotton has acquired the remaining twenty percent stake in Excel Controlinkage. This acquisition makes Excel Controlinkage a wholly-owned subsidiary of Greaves Cotton. The deal completes a multi-tranche acquisition process initiated in April 2023. Excel Controlinkage specialises in mechanical and electronic motion control systems. View More
Mumbai, Diversified engineering company Greaves Cotton on Monday said it has acquired the remaining 20 per cent stake in Excel Controlinkage through the secondary route, taking its aggregate shareholding in the company to 100 per cent. With the completion of this acquisition, effective August 13, Excel Controlinkage has become a wholly-owned subsidiary of Greaves Cotton Ltd, the company said in a statement. The acquisition marks the completion of the multi-tranche acquisition process initiated in April 2023, when Greaves Cotton entered into a definitive agreement to acquire Excel Controlinkage. Incorporated in 1994, Excel Controlinkage has a presence in mechanical and electronic motion control systems, with capabilities across push-pull cables, mechanical levers and linkages, and electronic throttle levers. Its products serve customers across commercial vehicles , construction equipment, agriculture, material handling, marine and special purpose vehicles, as well as the Aftermarket. The company also operates an integrated manufacturing facility for heavy-duty push-pull cables, including inner and outer conduits and end fittings. Live Events "The completion of the acquisition of Excel Controlinkage marks an important step in a margin-accretive acquisition that complements our diversification strategy. We are focused on building and scaling businesses with differentiated engineering capabilities and opportunities to participate in India's evolving mobility and industrial ecosystem, said Parag Satpute, Group CEO & Managing Director, Greaves Cotton Limited. The acquisition of Excel Controlinkage is aligned with Greaves Cotton's broader strategy of building a diversified portfolio, the company said. This will further strengthen its presence in commercial vehicles and contribute to the development of a broader mobility ecosystem , it added. With Excel Controlinkage, now a wholly owned subsidiary, Greaves Cotton will continue to focus on leveraging its capabilities, product portfolio, and customer relationships to support its growth across energy, mobility, and industrial solutions under Greaves.Next, the company said. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Wall Street is currently assessing Anthropic's valuation in light of its anticipated revenue growth for the upcoming IPO. The AI company forecasts remarkable revenue increases by 2028, which is pivotal for investor confidence. Revenue multiples derived from these forward-looking projections are being employed, with comparable companies such as Palantir and SpaceX serving as benchmarks. This strategy underscores the AI firm's rapid expansion and significant infrastructure investments. View More
As Anthropic prepares for what could be one of the biggest IPOs on record, Wall Street is looking further into the future than it commonly does to put a price on the AI company, valuing it based on how much revenue it could generate two years from now. Anthropic is projecting 2028 revenue of roughly $190 billion to $200 billion, according to two people familiar with the company's financials, a figure that has not previously been reported. The projection dwarfs the $47 billion revenue "run rate," reflecting the firm's current pace of business, that the company publicized as recently as May, and shows the scale of growth investors are being asked to underwrite. Bankers and investors are using enterprise value-to-revenue multiples based on forecasts, four sources said. Using revenue multiples is common for high-growth software companies that have yet to establish a mature profit profile. But looking two years ahead is less typical, reflecting the speed at which Anthropic's business is expanding and the challenges of setting benchmarks for a company still spending heavily to build out its AI infrastructure, the people said. Live Events The pace of spending on AI investment has been responsible for pullbacks in many of the most popular tech stocks in recent months, including some of the firms viewed as comparable to Anthropic. There have been precedents among some of the fastest-growing companies that hit the market recently. Backers of Cerebras Systems cited 2028 revenue expectations in the runup to the firm's IPO this year, and SpaceX projections extended as far as 2029 before the company went public at a record valuation in June, the people said. The approach reflects the difficulty of valuing an AI company whose margins are still being pressured by enormous spending on computing power, model training and hiring. Investors are betting that as Anthropic grows, revenue will rise faster than the costs required to support that growth, allowing margins to expand. Anthropic did not immediately respond to a request for comment. SEARCHING FOR COMPS Cloud infrastructure company Cloudflare, enterprise software company Palantir and Elon Musk's SpaceX are among the public companies being considered as reference points for Anthropic's valuation ahead of the company's analyst day, the people said. Public-market comparables are a crucial part of the IPO valuation process, giving investors a benchmark for how companies seen as having similar growth profiles and business models are valued. The peer group can also help determine which revenue or earnings multiples should be applied to a company's financial forecasts. Palantir is valued at 53 times this year's expected revenue, making it one of Wall Street's priciest stocks. SpaceX and Cloudflare both trade at 41.6 times expected 2026 revenue, LSEG data show. Each of the companies offers a different lens on Anthropic. Palantir has become a reference point for investors valuing businesses with rapid growth and exposure to AI. Cloudflare provides a comparison with a high-growth software and infrastructure company, while SpaceX offers an example of a company valued in part on expectations for its future scale rather than its current financial profile. LOOKING PAST CURRENT EARNINGS Established companies are typically valued more heavily on earnings, or EBITDA, which gives investors a sense of the economics of the business. For Anthropic, however, current EBITDA does not fully capture the economics investors expect the company to achieve at scale. Anthropic is spending enormous amounts on GPUs and other computing capacity, model training, inference and hiring. Those expenses are necessary to support its rapid expansion but could become a smaller percentage of revenue as the business grows. The company's financial trajectory already shows how quickly that equation is changing. Anthropic's revenue run rate was about $9 billion at the end of 2025, according to the company, before rising to more than $47 billion by May. Anthropic has projected revenue of at least $10.9 billion for the second quarter of 2026, more than double the previous quarter, on track for its first quarterly operating profit of $559 million. The company has said its revenue run rate grew more than 10-fold annually in each of the three years through early 2026. That growth is a key reason investors are willing to look as far ahead as 2028 when applying a revenue multiple. The valuation therefore rests on the expectation that Anthropic's current spending is funding a business that will eventually generate much higher revenue and margins. Training and inference could become more efficient as technology improves, while personnel and other operating costs could become a smaller share of revenue as the company scales. "Could they (Anthropic) get a $2 trillion valuation, yeah they could and I just wonder if it would stay there over time," said David Merkel, a principal at investment firm Aleph Investments. "Does it (AI) really produce so much additional productivity... These are just questions that we have to ask if we were thinking of pricing this, buying this." .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)