Osel Devices is scheduled to hit the market on September 16, 2024 and close on September 18, 2024. Osel Devices plans to raise around ₹70.66 Cr through an IPO with a sale of up to 4,416,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Osel Devices, which was previously known as Innovative Infratech Solutions Private Limited, started in 2006 and makes a wide variety of LED display systems and hearing aids. They produce LED display systems for different commercial uses like advertising, billboards, corporate presentations, and command centers. These systems come with a content management feature that allows them to be connected to phones or computers for easy display.
The company also makes hearing aids, which help people with hearing difficulties, including the elderly and those with chronic illnesses. Their main customer for hearing aids is the Artificial Limbs Manufacturing Corporation of India. Osel’s factory in Greater Noida can produce 15,000 square feet of LED displays and 400,000 hearing aids each year. The company has strong points like good product quality, a solid management team, and strong relationships with customers, ensuring they provide service and support after sales. As of March 31, 2024, Osel employed 68 people.
Osel Devices IPO Details
Osel Devices IPO opens on September 16, 2024, and closes on September 18, 2024. The Listing date for Osel Devices IPO is on September 23, 2024. The price band for IPO is ₹155 to ₹160 per share and lot size of 800 Shares.
| IPO Date | September 16, 2024 to September 18, 2024 |
| Listing Date | September 23, 2024 |
| Price | ₹155 to ₹160 per share |
| Lot Size | 800 Shares |
| Issue Size | ₹70.66 Cr |
| Face Value | ₹10 per share |
Osel Devices IPO Tentative Timetable
Osel Devices opening date is September 16, 2024 and close date is September 18, 2024. The IPO allotment date is September 19, 2024. Therefund initiation of IPO is on September 20, 2024. The credit of shares in demat account is on September 20, 2024. The listing date is on September 23, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 16, 2024 |
| IPO Closing | September 18, 2024 |
| IPO Allotment Date | September 19, 2024 |
| Refund Initiation | September 20, 2024 |
| Shares Credit to Demat | September 20, 2024 |
| Lisiting Date | September 23, 2024 |
Osel Devices IPO Lot Size
Lot Size of this IPO is 800 shares. A retail-individual investor can apply for up to 1 lots (800 shares or ₹128,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 800 | ₹128,000 |
| Retail(Maximum) | 1 | 800 | ₹128,000 |
| HNI (Minimum) | 2 | 1600 | ₹256,000 |
Osel Devices IPO Promoter Holding
| Pre Issue Share Holding | 98.50% |
| Post Issue Share Holding | 71.53% |
Osel Devices IPO Review
The company is launching its first book building route IPO, offering 4,416,000 equity shares at a price of Rs. 10 each. The goal is to raise Rs. 70.66 crore at the highest price in the price range.
On the financial performance front, for the last three fiscals, the company has posted a total revenue/net profit of Rs. 65.56 cr. / Rs. 2.12 cr. (FY22), Rs. 81.96 cr. / Rs. 4.66 cr. (FY23), and Rs. 132.69 cr. / Rs. 13.05 cr. (FY24). Sudden boost in bottom line for FAY24 raise eyebrows and concern over its sustainability.
For the last three fiscals, it has reported an average EPS of Rs. 7.31 and an average RoNW of 43.03%. The issue is priced at a P/BV of 7.29 based on its NAV of Rs. 21.96 as of March 31, 2024, and at a P/BV of 2.69 based on its post-IPO NAV of Rs. 59.52 per share (at the upper cap).
If we attribute FY24 super earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 19.78. Based on FY23 earnings, the P/E stands at 55.36. Thus the issue is relatively fully priced discounting all near term positives.
The company reported PAT margins of 3.25% (FY22), 5.69% (FY23), 9.87% (FY24), and RoCE margins of 25.13%, 26.91%, 43.17% for the referred periods, respectively. Surprisingly, RoCE margins data differs on page 97 and page 126 of the offer document.
This is the 8th mandate from Horizon Management in the last two financial years, including the current one. Out of the previous 7 listings, 2 started at a lower price, 1 started at the same price, and the others began with higher prices, ranging from 8.47% to 141.23% on the listing date.
The company is working in a very competitive and scattered market for LED display systems and related products. It has shown growth in both sales and profits in the recent periods. However, the sudden increase in profits for FY24 raises questions about whether this growth can continue. Based on the earnings for FY24, the stock seems to be fully valued. Smart investors might consider investing a moderate amount for the medium term.
Osel Devices IPO Subscription Status (Bidding Details)
Table not foundOsel Devices IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Osel Devices IPO FAQs
What is Osel Devices IPO?
Osel Devices is issuing 4,416,000 equity shares with a face value of ₹10 each, totaling up to ₹70.66 Cr. The shares are being offered at a price of ₹155 to ₹160 each, with a minimum order quantity of 800 shares.
Mas Services Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Osel Devices IPO will open?
Osel Devices will open on September 16, 2024 for QIB, NII, and Retail Investors.
When Osel Devices IPO will end?
Osel Devices will end on September 18, 2024.
What is Osel Devices IPO Size?
Osel Devices IPO size is ₹70.66 Cr.
What is Osel Devices IPO Price Band?
Osel Devices price band is ₹155 to ₹160 per share.
What is Osel Devices IPO Allotment Date?
Osel Devices allotment date is September 19, 2024.
What is Osel Devices IPO Listing Date?
Osel Devices listing date is September 23, 2024. The IPO is to be listed on BSE and NSE.
How to apply Osel Devices IPO through Zerodha?
To apply for the IPO “Osel Devices” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Osel Devices IPO through Upstox?
To apply for the IPO “Osel Devices” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Osel Devices IPO Allotment Status?
For Osel Devices IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Osel Devices IPO GMP?
You can check out here: Osel Devices IPO GMP. Check all IPO GMP here.