Osel Devices IPO

Osel Devices Limited, formerly known as Innovative Infratech Solutions Private Limited, was founded in 2006 and manufactures a comprehensive range of LED display systems and hearing aids. The company manufactures a comprehensive range of LED display systems including all major components for commercial use such as advertising media, billboards, corporate boardrooms, presentations, display promotions, command centers, and front signs. The company's LED display systems are equipped with a content management system that allows them to be connected to a phone or computer and displayed on screen. The company also manufactures hearing aids, commonly known as health aids, to assist people with disabilities, the elderly, and the chronically ill who have low hearing levels. The company's main customer for hearing aids is the Artificial Limbs Manufacturing Corporation of India. The company manufactures digitally programmable and non-programmable hearing aids. Osel’s manufacturing facility in Greater Noida was inaugurated by former Union Minister Shri Pratap Sarangi. The plant has a production capacity of 15,000 square feet of LED display per year and 4,00,000 units of hearing aids per year. Competitive strengths: Manufacturer of LED display systems and hearing aids with a long-standing market presence Geographical presence Quality assurance and quality control of our products Strong, cordial and long-term relationships with customers Cost-efficient production and punctual order processing Experienced management team Customers of the brand Service and support after the sale On March 31, 2024, the company employed 68 employees.

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects: Prepayment or repayment of certain loans availed by the Company; Funding of working capital requirements of the Company; and General Corporate Purposes.

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