Osel Devices IPO opens today: Check issue size, price band, GMP and other details

The SME IPO of Osel Devices opens for subscription today and will close on September 19. The company aims to raise nearly Rs 71 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

1) Osel Devices IPO size

The IPO is entirely a fresh equity issue of 44.1 lakh shares and through the issue, the company plans to raise Rs 71 crore.

2) Osel Devices IPO price band

The company is offering its shares at Rs 155-160 apiece, and investors can bid for 800 shares in 1 lot.

3) Osel Devices GMP

In the unlisted market, the company’s shares had a GMP of Rs 110, indicating a premium of 69% to the issue price.

4) About Osel Devices

As one of the leading providers of cutting edge technology solutions, Osel specializes in creating transformative products that empower individuals, businesses, and communities to thrive in a rapidly evolving digital world.

5) Industry overview

The electronics system, design and manufacturing (ESDM) industry includes electronic hardware products and components relating to information technology (IT), office automation, telecom, consumer electronics, aviation, aerospace, defence, solar photovoltaic, nano electronics and medical electronics.

6) Osel Devices financial performance

For the year ended March 2024, the company clocked total revenues of Rs 132 crore and net profit of Rs 13.05 crore.

7) Objects of the offer

The net proceeds from the public offer will be used for repayment of debt, working capital requirements and general corporate purposes.

8) Lead managers and Registrar

Horizon Management is acting as the lead manager to the issue and Mas Services is the registrar.

9) Issue structure

About 50% of the offer is reserved for QIB investors, 35% for retail investors, and the rest 15% for non-institutional investors.

10) Important dates

The IPO opened on September 16 and will close on September 19. The final allotment will likely be made on September 20. The company’s shares will likely get listed on September 24.