Online Instruments files IPO papers with Sebi; targets to raise Rs 750 cr via fresh issue

Online Instruments (India) Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO) comprising Rs 750 crore through fresh issue. Apart from fresh issues, there will be an Offer For Sale (OFS) of up to 57.10 lakh equity shares by promoters Anita Mahesh Bellad and Rajeshwari Shivanand Mahashetti, according to the Draft Red Herring Prospectus (DRHP). The Bengaluru-based company may also undertake a pre-IPO placement of up to Rs 150 crore. If such placement is completed, the size of the fresh issue will be reduced accordingly. Proceeds from the fresh issue to the extent of Rs 160 crore will be used for repayment or prepayment of certain borrowings, Rs 330 crore for funding working capital requirements, besides supporting inorganic growth through unidentified acquisitions and meeting general corporate purposes, as per the draft papers filed on Friday. Incorporated in 2006, Online Instruments provides audiovisual systems integration (AVSI) solutions. It offers AVSI solutions across use cases such as unified communications and collaboration (UCC), smart conference rooms, auditoriums, network operating command centres, and customer experience centres. The company also manufactures Interactive Flat Panel Displays (IFPDs), LED display products and audiovisual accessories under the LOGIC brand. In addition, it manufactures white-labelled IFPDs for Original Equipment Manufacturers (OEMs) and commercial and architectural lighting products under the Orange Plus brand. Online Instruments operates three manufacturing facilities in Bengaluru.The company has executed AVSI projects in India and overseas markets including Singapore, Malaysia, Taiwan, the Philippines, the United Arab Emirates, the United States, Mexico and France. As of December 31, 2025, it had executed AVSI projects for 745 customers in India across sectors such as enterprise, healthcare, banking, manufacturing, retail, education, airports and project management consulting. On the financial front, revenue from operations rose to Rs 547.4 crore in FY25 from Rs 335.9 crore in FY23, while net profit increased to Rs 35.3 crore from Rs 15.5 crore during the same period. Equirus Capital and Motilal Investment Advisors are the book-running lead managers to the issue.

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