Bookbuilding IPO | ₹71 Cr | Listed at NSE SME | Mon, Sep 16, 2024 - Thu, Sep 19, 2024
Osel Devices IPO is a book build issue of ₹70.66 crores. The issue is entirely a fresh issue of 0.44 crore shares of ₹70.66 crore.
Osel Devices IPO bidding started from Sep 16, 2024 and ended on Sep 19, 2024. The allotment for Osel Devices IPO was finalized on Sep 20, 2024. The shares got listed on NSE SME on Sep 24, 2024.
Osel Devices IPO price band is set at ₹160 per share. The lot size for an application is 800. The minimum amount of investment required by an retail is ₹1,28,000 (800 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (1,600 shares), amounting to ₹2,56,000.
Horizon Management Pvt.Ltd. is the book running lead manager and MAS Services Ltd. is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd..
Refer to Osel Devices IPO RHP for detailed Information.
IPO Open
Mon, Sep 16, 2024
IPO Close
Thu, Sep 19, 2024
Issue Price
₹160 per share
Market Cap (Pre-IPO)
₹258.07 Cr
| IPO Date | 16 to 19 Sep, 2024 |
| Listed on | Tue, Sep 24, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹155 to ₹160 |
| Issue Price | ₹160 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 44,16,000 shares (agg. up to ₹71 Cr) |
| Reserved for Market Maker | 2,21,600 shares Giriraj Stock Broking Pvt.Ltd. (agg. up to ₹4 Cr) |
| Fresh Issue (Ex Market Maker) | 41,94,400 shares (agg. up to ₹67 Cr) |
| Net Offered to Public | 41,94,400 shares (agg. up to ₹67 Cr) |
| Share Holding Pre Issue | 1,17,13,200 shares |
| Share Holding Post Issue | 1,61,29,200 shares |
| NSE Symbol | OSELDEVICE |
| ISIN | INE0RMF01018 |
Osel Devices IPO comprises a total issue size of 44,16,000 shares. The net offer to the public is 41,94,400 shares, after excluding 2,21,600 shares allotted on a firm basis. Of the Net offer 20,96,000 (49.97%) are allocated to QIB, 6,29,600 (15.01%) allocated to NII 14,68,800 (35.02%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 20,96,000 | 49.97% | 47.46% |
| − Anchor Investor Shares Offered | 12,57,600 | 28.48% | |
| − QIB (Ex. Anchor) Shares Offered | 8,38,400 | 18.99% | |
| NII (HNI) Shares Offered | 6,29,600 | 15.01% | 14.26% |
| Retail Shares Offered | 14,68,800 | 35.02% | 33.26% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,21,600 | 5.02% | |
| Total Shares Offered | 44,16,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 800 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹1,28,000 |
| Retail (Max) | 1 | 800 | ₹1,28,000 |
| HNI (Min) | 2 | 1,600 | ₹2,56,000 |
Osel Devices IPO raises ₹20.12 crore from anchor investors. Osel Devices IPO Anchor bid date is September 13, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Sep 13, 2024 |
| Shares Offered | 12,57,600 |
| Anchor Portion (₹ Cr.) | 20.12 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Oct 20, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Dec 19, 2024 |
Osel Devices Limited, formerly known as Innovative Infratech Solutions Private Limited, was founded in 2006 and manufactures a comprehensive range of LED display systems and hearing aids.
The company manufactures a comprehensive range of LED display systems including all major components for commercial use such as advertising media, billboards, corporate boardrooms, presentations, display promotions, command centers, and front signs. The company's LED display systems are equipped with a content management system that allows them to be connected to a phone or computer and displayed on screen.
The company also manufactures hearing aids, commonly known as health aids, to assist people with disabilities, the elderly, and the chronically ill who have low hearing levels. The company's main customer for hearing aids is the Artificial Limbs Manufacturing Corporation of India. The company manufactures digitally programmable and non-programmable hearing aids.
Osel’s manufacturing facility in Greater Noida was inaugurated by former Union Minister Shri Pratap Sarangi. The plant has a production capacity of 15,000 square feet of LED display per year and 4,00,000 units of hearing aids per year.
Competitive strengths:
On March 31, 2024, the company employed 68 employees.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 98.64 | 49.02 | 33.12 |
| Total Income | 132.69 | 81.96 | 65.55 |
| Profit After Tax | 13.05 | 4.66 | 2.12 |
| NET Worth | 25.34 | 12.29 | 7.63 |
| Reserves and Surplus | 13.80 | 10.43 | 5.77 |
| Total Borrowing | 25.45 | 17.82 | 8.63 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Prepayment or repayment of certain loans availed by the Company; | 6.00 |
| 2 | Funding of working capital requirements of the Company; | 44.00 |
| 3 | General Corporate Purposes | 10.78 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 34.68% |
| ROCE | 43.17% |
| RoNW | 51.50% |
| PAT Margin | 9.87% |
| Price to Book Value | 7.29 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 11.14 | 8.09 |
| P/E (x) | 14.36 | 19.77 |
| Promoter Holding | 98.5% | 71.53% |
| Market Cap | ₹258.07 Cr. |
The Osel Devices IPO is subscribed 194.24 times on September 19, 2024 6:16:01 PM (Day 4). The public issue subscribed 206.07 times in the retail category, 78.01 times in the QIB category, and 321.4 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 78.01 | 8,38,400 | 6,54,07,200 |
| NII* | 321.4 | 6,29,600 | 20,23,55,200 |
| Retail | 206.07 | 14,68,800 | 30,26,76,000 |
| Total | 194.24 | 29,36,800 | 57,04,38,400 |
Total Application : 3,78,345
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees including fees and reimbursements of Market Making fees and payment to other Intermediaries such as Legal Advisors to the IPO, Registrars and other out of pocket expenses. | 0.81 |
| 2 | Marketing and Selling Commission and expenses | 8.75 |
| 3 | Advertising and marketing expenses | 0.21 |
| 4 | Printing and distribution of issue stationery | 0.01 |
| 5 | Listing fees | 0.01 |
| 6 | SEBI and NSE processing fees | 0.00 |
| 7 | Book Building software fees | 0.04 |
| 8 | Other regulatory expenses | 0.05 |
| 9 | Miscellaneous | 0.01 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹160.00 |
| Open | ₹198.05 |
| Low | ₹190.10 |
| High | ₹207.95 |
| Last Trade | ₹207.95 |
Lead Manager Reports
Osel Devices IPO is a SME IPO of 44,16,000 equity shares of the face value of ₹10 aggregating up to ₹71 Crores. The issue is priced at ₹160 per share. The minimum order quantity is 800.
The IPO opens on Mon, Sep 16, 2024, and closes on Thu, Sep 19, 2024.
MAS Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Osel Devices IPO using UPI as a payment gateway. Zerodha customers can apply in Osel Devices IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Osel Devices IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Osel Devices IPO opens on Mon, Sep 16, 2024 and closes on Thu, Sep 19, 2024.
Osel Devices IPO lot size is 800, and the minimum amount required for application is ₹1,28,000.
You can apply in Osel Devices IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Osel Devices IPO will be done on Friday, September 20, 2024, and the allotted shares will be credited to your demat account by Mon, Sep 23, 2024. Check the Osel Devices IPO allotment status.
The Osel Devices IPO listing date is on Tue, Sep 24, 2024.
