OSEL Devices Ltd IPO

Osel Devices Limited (the Company or the Issuer) was incorporated on August 14, 2006 as a private limited company under the name and style of `Innovative Infratech Soultions Private Limited', under the Companies Act, 1956, pursuant to a certificate of incorporation dated August 14, 2006 issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. Subsequently, in order to rectify the transposition error in the name of the Company, pursuant to a resolution passed by its Board of Directors in its meeting held on November 6, 2013, and by the Shareholders in their Extraordinary General Meeting held on November 8, 2013, the name of the Company was changed to `Innovative Infratech Solutions Private Limited' and a fresh certificate of incorporation dated November 22, 2013 was issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. Subsequently, pursuant to a resolution passed by its Board of Directors in its meeting held on November 13, 2023, and by the Shareholders in their extraordinary general meeting held on December 15, 2023, in order to reflect the main business activity of the Company and for better branding, the name of the Company was changed to `Osel Devices Private Limited' and a fresh certificate of incorporation dated January 16, 2024 was issued by the Registrar of Companies, Delhi and Haryana at Delhi. Further, the Company was converted into a public limited company pursuant to a resolution passed by its Board of Directors in its meeting held on March 15, 2024, and by the Shareholders in an extraordinary general meeting held on March 22, 2024 and consequently the name of the Company was changed to `Osel Devices Limited' and a fresh certificate of incorporation dated May 2, 2024 was issued by the Registrar of Companies, Central Processing Centre.

More than three years after the global economy suffered the largest shock of the past 75 years, the wounds are still healing, amid widening growth divergences across regions. After a strong initial rebound from the depths of the COVID-19 pandemic, the pace of recovery has moderated. Several forces are holding back the recovery. Some reflect the long-term consequences of the pandemic, Russia's war in Ukraine, and increasing geoeconomic fragmentation. Others are more cyclical, including the effects of monetary policy tightening necessary to reduce inflation, withdrawal of fiscal support amid high debt, and extreme weather events. Despite signs of economic resilience earlier this year and progress in reducing headline inflation, economic activity is still generally falling short of pre-pandemic (January 2020) projections, especially in emerging market and developing economies.

The Company manufactures comprehensive range of LED display systems. It is equipped with software and hardware capabilities. Its LED display systems are enabled with content management system which allows it to connect to phone or computer and display on screen. Equipped with the latest technology and adhering to rigorous quality control standards, the company produces a wide range of high-performance components and systems. This vertical integration ensures consistency and excellence in every product it delivers. The LED display systems manufactured by the company has been used by corporate for commercial usage such as advertising media, billboards, corporate meeting rooms, presentations, display promotions, command control centre and front sign boards. The Company also manufactures latest hearing aids commonly known as assisted healthcare devices. Its hearing aids are designed to support individuals with disabilities, elderly person and chronic patients, who are having low hearing level, in performing everyday activities more effectively to enhance quality of life. Its major customer for hearing aid is Artificial Limbs Manufacturing Corporation of India. The Company manufactures Digital Programable and Non-Programmable Hearing Aids.