Online Instruments has received the Securities and Exchange Board of India’s (SEBI) approval to raise funds through initial public offering (IPO). The company’s maiden public offering will be a fresh issue of equity shares worth Rs 750 crore and an offer for sale of up to 57.10 lakh equity shares by promoters Anita Mahesh Bellad and Rajeshwari Shivanand Mahashetti.
The 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.
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.
