Osel Devices Limited, known for its cutting-edge technology solutions, specializes in developing innovative products that empower businesses and individuals to thrive in today's digital world. With a passion for innovation and a commitment to excellence, Osel Devices is positioning itself as a major player in the tech industry.

IPO Overview

The Osel Devices IPO is a Book Built Issue valued at ₹70.65 crores, consisting of a Fresh Issue of 44.16 lakh shares. The subscription period opens on September 16, 2024, and closes on September 19, 2024. The allotment date is set for September 20, 2024, with a tentative listing date of September 25, 2024, on the NSE SME.

The price band for the IPO is set between ₹155 and ₹160 per share, and the minimum lot size is 800 shares. Retail investors are required to invest at least ₹128,000, while High-Net-Worth Individuals (HNIs) must invest a minimum of ₹256,000 for 1,600 shares.

The book-running lead manager for the issue is Horizon Management Private Limited, with MAS SERVICES LIMITED serving as the registrar. Giriraj Stock Broking Private Limited acts as the Market Maker.

Financial Overview

Osel Devices has exhibited strong growth, with Revenue increasing from ₹6,555.49 lakhs in FY22 to ₹13,268.52 lakhs in FY24. The company’s EBITDA for FY24 stands at ₹2,288.29 lakhs, a significant rise from ₹464.73 lakhs in FY22. Similarly, Profit after Tax (PAT) grew from ₹212.31 lakhs in FY22 to ₹1,305.21 lakhs in FY24.

The company’s pre-issue EPS is ₹11.31, and the post-issue EPS is ₹8.09. The pre-issue P/E ratio is 14.14x, while the post-issue P/E ratio is 19.77x, lower than the Industry P/E of 38.00x, suggesting fair pricing. With an ROCE of 43.17% and an ROE of 34.68% in FY24, Osel Devices presents itself as a solid long-term investment.

Grey Market Premium (GMP) & Subscription Status

As of September 19, 2024, the Osel Devices IPO has been subscribed 63.27 times, indicating high investor interest. The Grey Market Premium (GMP) is estimated to be between ₹90 and ₹95, reflecting a potential listing gain of 55-58%.

IPO Objectives

The proceeds from the Osel Devices IPO will be utilized for the following objectives:

₹600.00 lakhs for prepayment or repayment of loans.

₹4,400.00 lakhs to fund working capital requirements.

Remaining funds for general corporate purposes.

Leadership and Future Outlook

The company is led by Rajendra Ravi Shanker Mishra, Managing Director, with over 18 years of experience in LED screens and hearing aid development, and Jyotsna Jawahar, Whole-time Director and CFO, with over a decade of experience in finance and accounts management.

Osel Devices aims to expand its footprint in the technology industry, offering innovative solutions that cater to the evolving needs of businesses and communities in a digital landscape. Their solid financials and industry positioning make them a company to watch in the coming years.

How to Check IPO Allotment Status

Investors can check their Osel Devices IPO allotment status online by following these steps:

Go to the IPO allotment status page.

Select Osel Devices Limited IPO from the dropdown list.

Enter your application number, PAN, or DP Client ID.

Submit the details to view your allotment status.

Conclusion and Recommendation

Given Osel Devices' robust financial performance, healthy growth trajectory, and attractive valuation, the IPO is recommended for long-term investment and listing gains. With a Grey Market Premium indicating strong market demand, investors looking for both immediate returns and future growth should consider applying.

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