New Delhi [India] September 13: Osel Devices Limited (the "Company" or the "Issuer"), is in to the innovative technology sector, is proud to announce its Initial Public Offering (IPO) in accordance with Chapter IX of the SEBI (ICDR) Regulations for Small and Medium Enterprises (SMEs). The Company's equity shares are proposed to be listed on the SME platform of NSE Limited (NSE EMERGE), marking a significant milestone in its growth journey.
Founded in 2006 as Innovative Infratech Solutions Private Limited, the Company has undergone a series of transformative changes, both in name and corporate structure. Initially incorporated on August 14, 2006, the Company aimed to bring innovative technology solutions to market. After rectifying a transposition error in the name in 2013, the Company officially became 'Innovative Infratech Solutions Private Limited.'
In January 2024, the Company rebranded to 'Osel Devices Private Limited' to reflect its core business and enhance its branding strategy. Following a resolution passed by the Board of Directors and approval from the Shareholders, Osel Devices converted into a public limited company in March 2024, marking the final transition to 'Osel Devices Limited.' The new name aligns with the Company's focus on providing cutting-edge technology solutions and better positioning in the competitive tech landscape.
Visionary entrepreneurs and leaders, Mr. Rajendra Ravi Shanker Mishra and Mrs. Jyotsna Jawahar, the dynamic promoters of Osel Devices Limited, are driving this remarkable growth initiative. With their extensive experience and strategic leadership, they have played a pivotal role in establishing Osel Devices as a trusted name in the tech industry.
Commenting on the IPO, Mr. Rajendra Ravi Shanker Mishra, Promoter and Director of Osel Devices Limited, said, "This IPO represents a significant step in our Company's evolution. We are excited about the opportunities this listing presents, including the ability to enhance our market presence, attract new investment, and continue driving innovation within the industry."
The funds raised from the IPO will be utilized towards Prepayment or repayment of certain loans availed by the Company, Funding of working capital requirements of the Company and General Corporate Purposes. This strategic initiative will enable Osel Devices to strengthen its product portfolio and deliver advanced technology solutions across various industries.
The Company's Registered Office is located in Delhi, with detailed information available in the Red Herring Prospectus under the section titled "History and Certain Corporate Matters." For prospective investors, the IPO provides a unique opportunity to become part of a company with a strong foundation, a vision for the future, and the backing of a capable leadership team.
About Osel Devices Limited
Osel Devices Limited is an innovative technology solutions provider, initially incorporated as 'Innovative Infratech Solutions Private Limited' in 2006. Over the years, the Company has rebranded and evolved to reflect its core business activities and expansion goals.
Today, the company stands as a public limited entity and is set to be listed on the NSE EMERGE platform soon, with a vision to become a leader in the tech sector by delivering groundbreaking solutions.
For further details, please visit our official website or refer to the Red Herring Prospectus available on NSE EMERGE.
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