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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 ₹160.00 per share . The lot size for an application is 800. The minimum amount of investment required by an retail is ₹1,24,000 (800 shares). The minimum lot size investment for 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 Date | September 16, 2024 to September 19, 2024 |
| Listing Date | September 24, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹155 to ₹160 per share |
| Issue Price Final | ₹160 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 44,16,000 shares (aggregating up to ₹70.66 Cr) |
| Reserved for Market Maker | 2,21,600 shares Giriraj Stock Broking Pvt.Ltd. (aggregating up to ₹3.55 Cr) |
| Net Offered to Public | 41,94,400 shares (aggregating up to ₹67.11 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,17,13,200 shares |
| Share Holding Post Issue | 1,61,29,200 shares |
Osel Devices IPO offers total 44,16,000 shares. Out of which 20,96,000 (47.46%) allocated to QIB, 8,38,400 (18.99%) allocated to QIB, 6,29,600 (14.26%) allocated to NII, 14,68,800 (33.26%) allocated to RII and 12,57,600 (28.48%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,21,600 (5.02%) |
| QIB Shares Offered | 20,96,000 (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 (14.26%) |
| Retail Shares Offered | 14,68,800 (33.26%) |
| Total Shares Offered | 44,16,000 (100.00%) |
Osel Devices IPO raises ₹20.12 crore from anchor investors. Osel Devices IPO Anchor bid date is September 13, 2024. Osel Devices IPO Anchor Investors list
| Bid Date | September 13, 2024 |
| Shares Offered | 12,57,600 |
| Anchor Portion Size (In Cr.) | 20.12 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 20, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 19, 2024 |
Osel Devices IPO opens on September 16, 2024, and closes on September 19, 2024.
| IPO Open Date | Mon, Sep 16, 2024 |
| IPO Close Date | Thu, Sep 19, 2024 |
| Tentative Allotment | Fri, Sep 20, 2024 |
| Initiation of Refunds | Mon, Sep 23, 2024 |
| Credit of Shares to Demat | Mon, Sep 23, 2024 |
| Tentative Listing Date | Tue, Sep 24, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Sep 19, 2024 |
Investors can bid for a minimum of 800 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
Osel Devices Limited's revenue increased by 62% and profit after tax (PAT) rose by 180% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 9,864.2 | 4,902.09 | 3,312.17 |
| Total Income | 13,268.52 | 8,195.58 | 6,555.49 |
| Profit After Tax | 1,305.21 | 466 | 212.31 |
| Net Worth | 2,534.21 | 1,229 | 763 |
| Reserves and Surplus | 1,380.39 | 1,042.9 | 576.9 |
| Total Borrowing | 2,545.23 | 1,782.29 | 862.87 |
| Amount in ₹ Lakhs | |||
The market capitalization of Osel Devices IPO is ₹258.07 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 34.68% |
| ROCE | 43.17% |
| RoNW | 51.50% |
| PAT Margin | 9.87% |
| Price to Book Value | 7.29 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 11.14 | 8.09 |
| P/E (x) | 14.36 | 19.77 |
The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:
[Dilip Davda] The company is operating in a highly competitive and fragmented segment of LED display system and related products. It posted growth in its top and bottom lines for the reported periods, however, sudden boost in bottom line for FY24 raises eyebrows and concern over its sustainability. Based on FY24 earnings, the issue appears fully priced. Well-informed investors may park moderate funds for medium term. Read detail review...
| Listing Date | September 24, 2024 |
| BSE Script Code | |
| NSE Symbol | OSELDEVICE |
| ISIN | INE0RMF01018 |
| Final Issue Price | ₹160 per share |
| NSE Listing Group | ST |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹160.00 |
| Open | ₹198.05 |
| Low | ₹190.10 |
| High | ₹207.95 |
| Last Trade | ₹207.95 |
Osel Devices Ltd.
Office No.- 712, Naurang House K.G. Marg,
Connaught Place, Central Delhi,
New Delhi - 110 001
New Delhi, New Delhi
Phone: +91 120 635 1600
Email: info@oseldevices.com
Website: http://www.oseldevices.com/
MAS Services Ltd.
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp
Osel Devices IPO is a SME IPO of 44,16,000 equity shares of the face value of ₹10 aggregating up to ₹70.66 Crores. The issue is priced at ₹160 per share. The minimum order quantity is 800.
The IPO opens on September 16, 2024, and closes on September 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 September 16, 2024 and closes on September 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 Monday, September 23, 2024. Check the Osel Devices IPO allotment status.
The Osel Devices IPO listing date is on Tuesday, September 24, 2024.
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