Osel Devices IPO Day 1: Public Issue Receives Bids Over 2.51x; Retail Investors Leading With Subcription Over 4.48 Times

In just a few hours after it opened for subscriptions on Monday, the Osel Devices IPO was fully subscribed. Up until 1:40 p.m., the initial public offer was subscribed 2.51 times according to Nationa; Stock Exchange bid data.

Retail investors' portion received 4.48 times as many subscriptions as the non-institutional investors' (NIIs) quota, which received 1.26 times as many bids.

IPO size and price band

The initial public offering (IPO) of Rs 70.66 crore, scheduled to end on September 19, is a new issuance of 44.1 lakh equity shares. The price range for each share has been set at Rs 155–Rs 160.

Minimum bid in IPO

For Rs 1,24,000, retail investors are able to place a bid for a minimum of one lot size, which comprises 800 shares.

IPO subscription timetable

September 16 is when the IPO opened, and September 19 is when it closes. On September 20, the final allocation is most likely to be made. On September 24, the company's shares are probably going to be listed.

IPO quota for categories

QIB investors will receive about half of the offer, followed by retail investors (35 per cent), and non-institutional investors (15 per cent).

Utilisation IPO proceeds

The money raised will go towards general corporate purposes, working capital needs, and loan repayment or prepayment.

Book running lead manager

Horizon Management Pvt Ltd is the issue's book-running lead manager, and Mas Services Ltd is the registrar.

Company financials

Between the fiscal year ending March 31, 2024, and March 31, 2023, Osel Devices Limited witnessed significant financial growth. Between FY 2023 and FY 2024, the company's revenue increased by 62 per cent, from Rs 81.96 crore to Rs 132.69 crore.

Its profit after tax (PAT) increased from Rs 4.6 crore to Rs 13.05 crore during that time, a 180 per cent increase.

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