Osel Devices made a notable entry into the stock market, with its shares listed on the NSE SME platform at ₹198, reflecting a 24% premium over the issue price of ₹160 per share.
Although the listing price was lower than the grey market premium, which hovered around 63%, the debut still indicates positive investor sentiment.
High Demand Among Investors
The IPO of Osel Devices was exceptionally popular, being subscribed a staggering 194 times overall.
The non-institutional investor category showed particularly strong interest, with subscriptions exceeding 300 times.
Retail investors also participated actively, subscribing more than 200 times. Qualified Institutional Buyers (QIBs) bid for shares at a rate 78 times the allocated quota, highlighting the increasing appeal of SME IPOs.
Company Overview and Future Plans
Osel Devices specializes in manufacturing LED display systems and hearing aids, catering to various commercial applications, including advertising, corporate environments, and command centers.
The funds raised from the IPO will be allocated to repaying loans, supporting working capital, and fulfilling other corporate requirements.
Following its listing, Osel Devices shares were trading at ₹207.95, marking a 29.97% increase as of 11:45 AM on September 24. Investors in the IPO are poised to benefit from significant listing gains.
