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.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.
