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Osel Devices IPO is a book built issue of Rs 70.66 crores. The issue is entirely a fresh issue of 44.16 lakh shares.
Osel Devices IPO bidding started from September 16, 2024 and ended on September 19, 2024. The allotment for Osel Devices IPO was finalized on Friday, September 20, 2024. The shares got listed on NSE SME on September 24, 2024.
Osel Devices IPO price band is set at ₹155 to ₹160 per share. The minimum lot size for an application is 800 Shares. The minimum amount of investment required by retail investors is ₹128,000. The minimum lot size investment for HNI is 2 lots (1,600 shares) amounting to ₹256,000.
Horizon Management Private Limited is the book running lead manager of the Osel Devices IPO, while Mas Services Limited is the registrar for the issue. The market maker for Osel Devices IPO is Giriraj Stock Broking.
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 |
| Price Band | ₹155 to ₹160 per share |
| Lot Size | 800 Shares |
| Total Issue Size | 4,416,000 shares (aggregating up to ₹70.66 Cr) |
| Fresh Issue | 4,416,000 shares (aggregating up to ₹70.66 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 11,713,200 |
| Share holding post issue | 16,129,200 |
| Market Maker portion | 221,600 shares Giriraj Stock Broking |
Osel Devices IPO offers 44,16,000 shares. 8,38,400 (18.99%) to QIB, 6,29,600 (14.26%) to NII, 14,68,800 (33.26%) to RII and 12,57,600 (28.48%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 12,57,600 (28.48%) |
| Market Maker Shares Offered | 2,21,600 (5.02%) |
| QIB 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%) |
Osel Devices IPO raises Rs 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 | 1,257,600 |
| Anchor Portion Size (In Cr.) | 20.12 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 19, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 18, 2024 |
Osel Devices IPO opens on September 16, 2024, and closes on September 19, 2024.
| IPO Open Date | Monday, September 16, 2024 |
| IPO Close Date | Thursday, September 19, 2024 |
| Basis of Allotment | Friday, September 20, 2024 |
| Initiation of Refunds | Monday, September 23, 2024 |
| Credit of Shares to Demat | Monday, September 23, 2024 |
| Listing Date | Tuesday, September 24, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 19, 2024 |
Investors can bid for a minimum of 800 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹128,000 |
| Retail (Max) | 1 | 800 | ₹128,000 |
| HNI (Min) | 2 | 1,600 | ₹256,000 |
| Lot Size Calculator | |||
Rajendra Ravi Shanker Mishra and Jyotsna Jawahar are the company promoters.
| Share Holding Pre Issue | 98.50% |
| Share Holding Post Issue | 71.53% |
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 | |||||||||||||||||||||||||||
| Revenue | 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 Rs 258.07 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 34.68% |
| ROCE | 43.17% |
| RoNW | 51.50% |
| P/BV | 7.29 |
| PAT Margin (%) | 9.87 |
| 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...
The Osel Devices IPO is subscribed 194.24 times on September 19, 2024 6:16:01 PM. The public issue subscribed 206.07 times in the retail category, 78.01 times in the QIB category, and 321.40 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 78.01 |
| NII | 321.40 |
| Retail | 206.07 |
| Total | 194.24 |
Total Application : 378,345 (206.07 times)
| Listing Date | September 24, 2024 |
| BSE Script Code | |
| NSE Symbol | OSELDEVICE |
| ISIN | INE0RMF01018 |
| Final Issue Price | ₹160 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹160.00 |
| ₹198.05 |
| ₹190.10 |
| ₹207.95 |
| ₹207.95 |
Osel Devices Limited
Office No.- 712, Naurang House K.G. Marg,
Connaught Place, Central Delhi,
New Delhi - 110 001
Phone: +91 120 635 1600
Email: info@oseldevices.com
Website: http://www.oseldevices.com/
Mas Services Limited
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp
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Osel Devices IPO is a SME IPO of 4,416,000 equity shares of the face value of ₹10 aggregating up to ₹70.66 Crores. The issue is priced at ₹155 to ₹160 per share. The minimum order quantity is 800 Shares.
The IPO opens on September 16, 2024, and closes on September 19, 2024.
Mas Services Limited 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 Shares, and the minimum amount required is ₹128,000.
You can apply in Osel Devices IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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