Osel Devices Limited is launching its IPO with a book-built issue of ₹70.66 crores, entirely comprising 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 finalised on September 20, 2024, with a tentative listing date on the NSE SME scheduled for September 24, 2024. The price band for the IPO is set between ₹155 to ₹160 per share. Retail investors can apply for a minimum lot size of 800 shares, requiring an investment of ₹1,28,000.
High Net-Worth Individuals (HNIs) need to invest in a minimum of two lots, totalling ₹2,56,000. Horizon Management Private Limited is the book-running lead manager for the IPO, with Mas Services Limited serving as the registrar. Giriraj Stock Broking is the market maker for the issue, ensuring liquidity and stability in the post-listing phase.
Industry Outlook:
- India's preventive healthcare sector is gaining importance, with NCDs accounting for 66% of all deaths in 2019, leading to an economic burden of ₹511 lakh crore by 2030.
- The ESDM market in India is projected to grow at a 16.1% CAGR from 2019 to 2025, driving demand for electronic products to $400 billion by 2025.
Osel Devices IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Prepayment or repayment of certain loans availed by the company.
- Funding of working capital requirements of the company.
- General corporate purposes.
About About Osel Devices Limited
Founded in 2006, Osel Devices Limited, formerly known as Innovative Infratech Solutions Private Limited, specialises in manufacturing a wide range of LED display systems and hearing aids. The company produces LED display systems for various commercial applications, including advertising media, corporate boardrooms, and command centres, all equipped with content management systems for seamless connectivity.
Osel Devices also manufactures hearing aids, catering primarily to the Artificial Limbs Manufacturing Corporation of India, offering both digitally programmable and non-programmable options for individuals with hearing impairments.
The company’s manufacturing facility in Greater Noida, inaugurated by former Union Minister Shri Pratap Sarangi, boasts an annual production capacity of 15,000 square feet of LED displays and 4,00,000 hearing aids. Osel Devices’ competitive strengths include its long-standing market presence, strong customer relationships, stringent quality control, cost-efficient production, and an experienced management team. As of March 31, 2024, the company employed 68 individuals.
Peer Details
The company Osel Devices Limited does not consider any listed company in India or abroad as its peers.
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Contact Details of Osel Devices IPO
- Registered office: Office No.- 712, Naurang House K.G. Marg, Connaught Place, Central Delhi, New Delhi- 110 001, Delhi, India
- Phone: +91 116 666 7621
- E-mail: info@oseldevices.com
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023`Year ending on March 31, 2023 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 13,223.35 | 8,188.68 |
| Profit After Tax (PAT) (in ₹ lakh) | 1,305.21 | 466.00 |
| Current Ratio (x) | 1.24 | 1.20 |
| Net Worth (in ₹ lakh) | 2,534.21 | 1,229.00 |
| Total Borrowings (in ₹ lakh) | 2,545.23 | 1,782.29 |
| Return on Equity (%) | 34.68% | 23.39% |
| Return on Capital Employed (RoCE) (%) | 43.17% | 26.91% |
| Earnings Per Share (in ₹) | 11.31 | 4.04 |
Know before investing
Strengths
6Advanced manufacturing plant with the latest technology and machinery.
Experienced workforce with strong technical expertise.
Established client relationships with consistent repeat orders.
Strong brand recognition in customised product manufacturing.
Robust R&D and quality control processes ensure high standards.
Solid international relationships for sourcing raw materials.
Risks
6Dependence on a small pool of key personnel limits flexibility.
Limited financial resources constrain investment in technology and talent.
Heavy reliance on imported raw materials, primarily from China.
High competition from larger players with greater market power.
Rapid technological changes require ongoing investment to remain competitive.
Regulatory changes may impact market access and distribution capabilities.
