Osel Devices IPO: The issue that opened for subscription on on September 16, 2024, closes on 19 September. Here is the subscription status, GMP, key dates, all you need to know.

Osel Devices IPO subscription status

Osel Devices IPO subscribed 3.42 times on 16 September 2024 by 3:00 PM. The public issue subscribed 6.12 times in the retail category, 0.00 times in QIB, and 1.67 times in the NII category by September 16, 2024 2:58:02 PM as per Chitorgarh.com data

Osel Devices key details

The Subscriptions for the Osel Devices IPO began on September 16, 2024, and conclude on September 19, 2024. On Friday, September 20, 2024, the allotment for the Osel Devices IPO is anticipated to be completed. The proposed listing date of Osel Devices IPO is set for Tuesday, September 24, 2024 on NSE SME.

Osel Devices IPO is a book built issue worth ₹70.66 crores comprising the issue of fresh 44.16 lakh shares.

The IPO price band for Osel Devices is ₹155 to ₹160 per share. An application must have a minimum lot size of 800 shares. Retail investors are required to invest a minimum of ₹128,000. HNI requires a minimum investment of two lots (1,600 shares), or ₹256,000.

The following objectives are that the company has proposed to active from the Net Proceeds from the Issue:

Prepayment or repayment of certain loans availed by the Company;

Funding of working capital requirements of the Company; and

General Corporate Purposes.

Osel Devices Grey Market premium or GMP

The Osel Devices IPO GMP, or grey market premium, is +110 as per Investorgain.com. This indicates that Osel Devices shares were being sold on the Grey market for ₹110 more than their market value.

Osel Devices’ estimated listing price was ₹270 per share, which represents a 68.75% premium over the ₹160 IPO price, given the upper end of the IPO pricing range and the current premium in the secondary market.

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