Online Instruments India files IPO papers with ₹750 crore fresh issue, OFS of 57 lakh shares

Online Instruments India IPO: Audio-visual systems integration solutions provider Online Instruments (India) Ltd has filed preliminary papers with market regulator Securities and Exchange Board of India (SEBI) to raise funds via an initial public offering (IPO).

The proposed initial share sale is a mix of fresh issuance of ₹750 crore and an offer for sale (OFS) of 57.10 lakh equity shares. Under the OFS, promoters Rajeshwari Shivanand Mahashetti and Anita Mahesh Bellad will offload their stake.

The net proceeds from the issue will be used for repayment of certain outstanding borrowings, funding working capital requirements, inorganic growth through unidentified acquisitions and general corporate purposes.

"Our company expects to receive the benefits of listing of the equity shares on the stock exchanges and enhancement of our company’s visibility and brand image and creation of a public market for our equity shares in India," according to the draft red herring prospectus.

Motilal Oswal Investment Advisors Ltd and Equirus Capital Ltd are the issue's book-running lead managers, while MUFG Intime India Pvt Ltd is the registrar.

The company's shares will debut on the National Stock Exchange (NSE) and the BSE (formerly Bombay Stock Exchange).

The company will set aside 50% of the net offer for qualified institutional buyers (QIBs), 35% for retail individual investors, or RIIs, and 15% for non-institutional investors (NIIs).

About Online Instruments India

Online Instruments India Ltd provides audio-visual systems integration (AVSI) solutions and is a well-established player in the India AVSI solutions market. Its AVSI capabilities extend across the whole array of a client’s project, with experience across diverse use cases, including unified communications and collaboration solutions, AVSI deployments for smart conference rooms, network operating command centres, large auditoriums and customer experience centres. It also manufactures interactive flat panel displays (IFPDs).

It carries out manufacturing operations at three production facilities located in Bengaluru.