Osel Devices Limited IPO Open for Subscription on September 16th, 2024
- Osel Devices Limited. will hit the primary market on September 16th and it will close on September 19th, 2024
- The equity shares are offered at a price band of Rs 155 – Rs 160 per equity share. Retail Investors would be required to subscribe to a minimum lot of 800 shares.
New Delhi, India, September 13, 2024
The Initial Public Offering (IPO) of Osel Devices Limited, is officially open for subscription from 16th September 2024 to 19th September 2024.
Osel Devices Limited, formerly known as Innovative Infratech Solutions Private Limited, was founded in 2006 and manufactures a comprehensive range of LED display systems for Indoor and Outdoor usage.
Osel also manufactures hearing aids commonly known as assisted healthcare devices. Osel hearing aids are designed to support individuals with disabilities, elderly person and chronic patients, who are having low hearing level, in performing everyday activities more effectively to enhance quality of life.
Mr. Ravi Mishra, Founder of Osel Devices Limited, on the IPO, says:
“Osel has always been driven by technology at its core, and with robust manufacturing capabilities, in-house R&D, and reliable customer service, we remain at the forefront of the products we create. This IPO will mark the start of an exciting new chapter for Osel Devices Ltd, one that will empower us to reach greater heights, foster continuous innovation, and extend our impact across diverse industries.”
The Company’s equity shares are to be listed on the SME platform of NSE Limited (NSE EMERGE). The issue comprises up to 44,16,000 equity shares, with a price range set between Rs. 155 to Rs. 160 per share. The face value of each equity share is Rs. 10, and the minimum bid lot is 800 equity shares with multiples thereof. Retail investors can subscribe up to a maximum of Rs. 2,00,000.
As a 100% book-building issue, investors are encouraged to submit their bids early. Please note that the cut-off time for UPI mandate confirmation is 5:00 PM on 19th September 2024, the last day of bidding. It’s crucial to ensure your UPI mandate is confirmed with the status code RC100 for your application to be considered valid. To avoid any potential technical or systemic constraints, its highly recommended to submit the UPI applications well in advance.
Osel Devices IPO schedule is as below:
- Bid/Offer Opens On: September 16, 2024
- Bid/Offer Closes On: September 19, 2024
- Finalization of Basis of Allotment: September 20, 2024
- Initiation of refunds: September 23, 2024
- Credit of Equity Shares: September 23, 2024
- Listing Date: September 24, 2024
Refer the Link to RHP for more details: