The most-predicted Osel Devices IPO opened for public subscription on September 16, 2024, and will close on September 19, 2024. Here is a thorough glance at everything investors need to know about this public issue.
Subscription Status (As of September 18, 2024, 11:40 am)
Osel Devices IPO has seen strong market, with the subscription numbers already going 33.17 times. The retail category saw a high subscription rate of 54.98 times, while Non-Institutional Investors (NII) subscribed 26.47 times. However, Qualified Institutional Buyers (QIB) showed no subscription activity as of nowadays.
Osel Devices Key IPO Details
- IPO Opening Date: September 16, 2024
- IPO Closing Date: September 19, 2024
- IPO Allotment Date: September 20, 2024 (anticipated)
- Listing Date: September 24, 2024, on NSE SME
The issue is set to increase ₹70.66 crores through the sale of 44.16 lakh fresh shares. The price band for the IPO goes from ₹155 to ₹160 per share.
Retail investors are needed to buy at least one lot of 800 shares, with a lowest investment of ₹128,000. For High-Net-Worth Individuals (HNIs), a minimum of two lots (1,600 shares) must be bought, with an investment of ₹256,000.
Goals of the IPO
Osel Devices plans to utilize the net proceeds of the issue to:
- Prepay or repay individual loans,
- Fund working capital requirements, and
- Cover available corporate goals.
Grey Market Premium (GMP)
As per the new updates, the Grey Market Premium (GMP) for Osel Devices is ₹110. This means a considerable premium over its upper IPO price of ₹160, making the calculated listing price ₹270 per share, which translates to a 68.75% premium over the issue price. The strong GMP suggests optimistic ideas in the secondary market.
Listing Potential and Market Sentiment
The demand for Osel Devices IPO stems from its strong financials and market positioning in the medical device sector. The strong GMP issues to high investor trust in the company’s future growth revolution.
With significant market from retail and non-institutional categories, the IPO is possible to see a premium listing.
Risk Factors
Possible investors should be conscious that IPO investments, while lucrative, come with some risks. Market needs, the company’s capability to support growth, and external economic factors could impact recoveries. Investors should carefully consider their monetary situation and risk patience before investing.
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Disclaimer
The information provided here is for educational purposes and does not constitute financial advice. Market conditions are unpredictable, and investors should conduct their own research or consult with a financial advisor before making investment decisions.
