After the public offering closes with great success, Osel Devices Limited's IPO share allotment status is expected to be finalized on Friday, September 20. On the last day of bidding, 194 subscribers subscribed to the issue.
From September 16 to September 19, bids were accepted for the Rs 70.66-crore NSE SME IPO.
Subscription and listing timetable
On Monday, September 23, Osel Devices Ltd. is anticipated to start initiating refunds and crediting shares to Demat accounts. On September 24, the company plans to list its shares on the NSE SME platform.
The IPO opened on September 16 and closes on September 19. The final share distribution is most likely to occur on September 20. The company's shares will most likely go public on September 24.
Subscription across categories
At the close of bidding on September 19, Osel Devices Ltd. IPO had 194 times bookings. NSE data shows that against the 29.36 lakh shares that were up for subscription, investors placed bids for 57.06 crore shares.
While the NIIs (non-institutional investors) booked their quota 321.75 times, the retail individual investors' portion was booked 206.07 times. The category for qualified institutional buyers (QIB) had subscribed 78 times.
A new issue of 44.16 lakh shares and no offer for sale were included in the Rs 70.66 crore public offer. Fixed at Rs 155 to Rs 160 per share was the Osel Devices IPO price range. 800 shares was the minimum lot size, requiring a Rs 1,28,000 investment from retail investors.
Utilisation of IPO proceeds
The plan of the company is to use the proceeds from the initial public offering (IPO) for general corporate purposes, working capital requirements, and loan prepayment or repayment.
Established in 2006, Osel Devices Limited manufactures a variety of LED display systems and hearing aids. 68 people were employed by the company as of March 31, 2024.
