Bengaluru, May 11: Online Instruments (India) Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO).
The proposed IPO, with a face value of ₹2 per equity share, comprises a fresh issue of equity shares aggregating up to ₹750 crore and an offer for sale (OFS) of up to 5,710,000 equity shares by promoters Anita Mahesh Bellad and Rajeshwari Shivanand Mahashetti.
According to the DRHP, proceeds from the fresh issue will primarily be utilised towards repayment or prepayment of certain outstanding borrowings amounting to ₹160 crore, funding working capital requirements worth ₹330 crore, supporting inorganic growth initiatives through unidentified acquisitions, and for general corporate purposes.
The issue is being offered through the book-building process in accordance with SEBI ICDR Regulations, with not more than 50% of the net issue reserved for Qualified Institutional Buyers (QIBs), at least 15% allocated to Non-Institutional Investors (NIIs), and not less than 35% reserved for Retail Individual Investors (RIIs).
The company may also consider a pre-IPO placement aggregating up to ₹150 crore, in consultation with the book-running lead managers. If undertaken, the size of the fresh issue will be reduced accordingly.
Founded in 2006, Online Instruments (India) Limited operates in the audiovisual systems integration (AVSI) solutions segment and is recognised as an established player in the Indian AVSI market, according to a 1Lattice report.
The company offers integrated AVSI solutions across diverse enterprise environments including unified communications and collaboration (UCC), smart conference rooms, auditoriums, network operating command centres, and customer experience centres. Its solutions are marketed under the Online Instruments and Level 3 Audiovisual brands.
In addition, the company manufactures interactive flat panel displays (IFPDs), LED display products, and audiovisual accessories under its LOGIC brand. It also manufactures commercial and architectural lighting products under the Orange Plus brand and for third-party OEMs.
The company currently operates three manufacturing facilities in Bengaluru, including India’s first completely knocked down (CKD) manufacturing facility for IFPDs, which commenced commercial operations in November 2024. As of December 31, 2025, the CKD facility had an installed annual production capacity of 223,200 IFPDs based on three operational shifts per day.
The company has established a global presence through AVSI deployments across countries including India, Singapore, Malaysia, Taiwan, the Philippines, the UAE, the United States, Mexico, and France, following its earlier acquisition of Level 3 Audio Visual, LLC.
Its customer base spans sectors such as enterprise, healthcare, banking, manufacturing, retail, education, project management consulting, and airports. As of December 31, 2025, the company had executed AVSI projects for 745 customers in India.
Financially, the company reported revenue from operations of ₹466.1 crore and net profit of ₹14.5 crore for the nine months ended December 31, 2025. For FY25, revenue from operations stood at ₹547.4 crore compared to ₹335.9 crore in FY23, while net profit increased to ₹35.3 crore from ₹15.5 crore during the same period.
Equirus Capital and Motilal Investment Advisors are acting as the book-running lead managers to the issue, while MUFG Intime India Private Limited is the registrar.
The equity shares are proposed to be listed on the BSE and NSE.
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