Online Instrument has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (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.
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. Equirus Capital and Motilal Investment Advisors are the book-running lead managers to the issue.
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.
