Osel Devices IPO is a book-built issue valued at ₹70.66 crores, consisting entirely of a fresh issue of 44.16 lakh shares.
The IPO opens for subscription on September 16, 2024, and closes on September 19, 2024. The allotment is expected to be finalized by Friday, September 20, 2024, and the shares are set to list on NSE SME with a tentative listing date of Tuesday, September 24, 2024.
The price band for the IPO is set between ₹155 and ₹160 per share. The minimum application size is 800 shares, requiring a retail investment of ₹128,000. For HNIs, the minimum investment is ₹256,000 for 2 lots (1,600 shares).
Below are the details of Osel Devices Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Osel Devices Limited IPO Details
| IPO Date | September 16, 2024 to September 19, 2024 |
| Listing Date | [.] |
| 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 |
Osel Devices Limited IPO Timeline
| 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 |
Osel Devices Limited IPO Lot Size
| pplication | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹128,000 |
| Retail (Max) | 1 | 800 | ₹128,000 |
| HNI (Min) | 2 | 1,600 | ₹256,000 |
Osel Devices Limited IPO Reservations
| 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 Limited IPO Promoter Holdings
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 IPO Financial Information
| 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 | ||||||||||||||||||||||||||||||
Osel Devices Limited IPO Review
As a financial advisor, I would evaluate Osel Devices Ltd.’s IPO cautiously. While the company has demonstrated solid revenue growth, particularly in FY24 with a significant boost in profits, the sustainability of this surge is uncertain. The company’s operations in LED display systems and hearing aids are promising, but the market is highly competitive.
At an IPO price range of ₹155-₹160, the issue appears fully priced, with a P/E ratio of 19.78 based on FY24 earnings. The company’s financial performance and lack of listed peers make it suitable for medium-term investment by well-informed investors, but caution is advised regarding future profit sustainability.