Osel Devices Limited, renowned for its cutting-edge technology solutions, is set to launch its Initial Public Offering (IPO) on September 16, 2024. The company specializes in transformative products that enhance digital experiences for individuals and businesses. The IPO aims to raise ₹70.65 Crores through a fresh issue of 44.16 lakh shares.

Company Overview

Founded with a commitment to innovation and excellence, Osel Devices has established itself as a leader in technology solutions. With experienced leadership in the form of Rajendra Ravi Shanker Mishra and Jyotsna Jawahar, the company is well-positioned for future growth.

IPO Details:

IPO Size: ₹70.65 Crores

Shares Offered: 44.16 lakh shares (Fresh Issue)

Price Band: ₹155 to ₹160 per equity share

Lot Size: 800 shares

Minimum Investment for Retail Investors: ₹128,000

Minimum Investment for HNIs: 2 lots (1,600 shares), totaling ₹256,000

Horizon Management Private Limited is the book-running lead manager, MAS SERVICES LIMITED is the registrar, and Giriraj Stock Broking Private Limited is the Market Maker for the IPO.

Grey Market Premium (GMP) and Subscription

The Grey Market Premium (GMP) for Osel Devices IPO is currently expected to be between ₹110 and ₹115, indicating potential listing gains of 68-70%. This premium is speculative and may not reflect the actual listing price.

As of September 16, 2024, the IPO's live subscription status shows a 2.80 times subscription on its first day, suggesting strong interest from investors. Real-time updates can be tracked on the NSE website.

Anchor Investors Report

Osel Devices has raised ₹20.12 Crores from Anchor Investors at ₹160 per share, with 12,57,600 equity shares allocated. This strong institutional interest reflects confidence in the company’s prospects.

IPO Allotment and Listing

The allotment of shares is scheduled for September 19, 2024. Investors can check their allotment status by:

Visiting the IPO allotment status page on the registrar’s website.

Selecting Osel Devices Limited IPO from the dropdown list.

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

Submitting the details to view your allotment status.

Objectives of the IPO

Proceeds from the IPO will be utilized for:

Prepayment of Loans: ₹6,00 Lakhs allocated for repaying certain loans.

Working Capital: ₹44,00 Lakhs for funding working capital requirements.

General Corporate Purposes: Additional funds for overall corporate activities.

IPO Review and Recommendations

Priced at ₹155-160 per share, the Osel Devices IPO shows strong potential with expected listing gains of 68-70%. The company’s robust financial performance, combined with strategic use of IPO proceeds, suggests a promising investment opportunity.

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