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Mainboard IPOupcomingBoth

Online Instruments IPO

Online Instruments IPO is a mainboard IPO scheduled to open for subscription on — and closed on —. The issue aggregates ₹750 Cr.

Price Band
TBA
GMP
Subscription
Listing

Overview

Online Instruments IPO is a mainboard IPO scheduled to open for subscription on — and closed on —. The issue aggregates ₹750 Cr.

IPO Details

Online Instruments IPO is a mainboard initial public offering scheduled to open for subscription on Both. The issue has a price band of TBA per equity share with a lot size of TBA shares, translating to a minimum retail investment of TBA.

The issue aggregates ₹750 Cr, and subscription dates are yet to be announced. Allotment is expected on and the equity shares are scheduled to list on .

Type
Mainboard
Status
upcoming
Price band
TBA
Face value
₹10 (typical)
Lot size
Min investment (Retail)
TBA
Issue size
₹750 Cr
Fresh issue
₹750 Cr
OFS
Exchange
Both
ISIN
TBA

Market Lot

Market lot details will be available once the price band and lot size are finalised in the Red Herring Prospectus.

IPO Reservation

Per SEBI guidelines, Online Instruments IPO reserves shares across investor categories as follows. Final allotment percentages may vary slightly based on the final issue document.

Category% ReservedNotes
QIB (Qualified Institutional Buyers)Not more than 50%Mutual funds, FIIs, banks, insurance
NII / HNI (Non-Institutional)Not less than 15%Bids ≥ ₹2 lakh
Retail (RII)Not less than 35%Bids up to ₹2 lakh

Important Dates

  1. Issue Open
    · Subscription opens
  2. Issue Close
    · Subscription closes
  3. Allotment
    · Basis of allotment finalised
  4. Refunds Initiated
    · Funds released for non-allottees
  5. Listing Date
    · Shares debut on the exchange

Grey Market Premium

Grey Market Premium for Online Instruments is yet to be tracked. We update GMP from multiple grey market sources during the subscription window. Bookmark this page and check IPO GMP Today for live updates.

Subscription Status

Online Instruments IPO subscription tracking will go live once the subscription window opens. Category-wise data (Retail / NII / QIB / Employee) will be available on IPO Subscription Status.

Allotment Status

Online Instruments IPO allotment will be finalised by the registrar (TBA) on . Check your allotment status using your PAN, application number, or DP ID via our allotment status checker or directly on the registrar's website.

If allotment fails, the blocked funds via ASBA / UPI mandate are released back within 24-48 hours. Applying through multiple demat accounts in family members' names improves chances on oversubscribed IPOs.

About Online Instruments

Online Instruments (India) Limited is a Bangalore-based audiovisual systems integration (AVSI) solutions provider with over 20 years of operating history in the Indian and select international markets. The product-and-services portfolio covers integrated AV deployments for unified communication and collaboration (UCC) environments, smart conference rooms, large auditoriums, network operating command centres (NOCs), and customer-experience centres. The AVSI category sits at the intersection of three structural growth vectors: (1) enterprise digital-transformation spending as hybrid-and-remote work normalised conference-room infrastructure investment globally; (2) government and PSU digital-infrastructure modernisation programmes (Smart Cities, BharatNet, defence command-and-control modernisation); (3) education-sector smart-classroom and university auditorium upgrades through both government (PM eVidya, RUSA) and private institutional spend. Indian AVSI is a fragmented market with many small system-integrator competitors but very few scale players. Online Instruments has built scale through a multi-decade customer base (UCC environments + smart conference rooms + auditoriums + NOCs) that creates recurring-services revenue alongside one-time-deployment revenue. The mix is structurally different from pure-product distribution (commodity HW reseller) or pure-services (custom application development) — AVSI is integration-driven, blending hardware procurement, system design, deployment, and ongoing operations. The IPO is structured as ₹750 crore fresh issue + 57.10 lakh equity shares OFS (exact rupee value pending price band). Fresh-issue proceeds are specifically allocated: ₹160 crore for debt repayment, ₹330 crore for working-capital, and the balance for inorganic-growth (unidentified acquisitions) plus general corporate purposes. The detailed proceeds-allocation discipline is investor-friendly compared to generic 'general corporate purposes' framing seen in many SME and mid-cap IPOs.

Promoter & Holding Pattern

The promoter and promoter group hold the majority stake in Online Instruments prior to the IPO. Post-listing, this percentage will reduce as new equity shares are issued to the public. Detailed pre-IPO and post-IPO promoter holding data will be updated once the Red Herring Prospectus is finalised with SEBI.

Objects of the Issue

Online Instruments IPO proceeds will be utilised across the following objectives, as disclosed in the Red Herring Prospectus:

PurposeAmount (₹ Cr)% of Issue
Repayment / prepayment of outstanding borrowings — debt reduction at company level16021.33%
Working capital requirements33044.00%
Inorganic growth through unidentified acquisitions + general corporate purposes (balance of fresh issue)26034.67%

Financial Performance

Online Instruments's three-year financials — revenue, PAT, assets, net worth — will be displayed here based on audited numbers from the Red Herring Prospectus. Year-on-year growth, EBITDA margins, debt-to-equity progression, and RoNW together form the basis for valuation comparison.

Valuation Snapshot

Key valuation metrics for Online Instruments — RoE, RoCE, EBITDA margin, PAT margin, debt-to-equity, EPS, P/E ratio, RoNW, NAV — will be updated based on FY25 numbers from the Red Herring Prospectus.

Peer Comparison

Listed peers in the Technology sector with key valuation metrics:

CompanyEPS (₹)P/E RatioRoNW (%)NAV (₹)Income (₹ Cr)
Persistent Systems
Mphasis
Sify Technologies

Anchor Investors

Anchor investor bidding for Online Instruments typically opens one working day before the issue opens to the public. Anchor investors — mutual funds, FIIs, sovereign wealth funds, and insurance companies — collectively subscribe to a portion of the QIB segment. Their participation signals institutional confidence. Anchor list and total amount will be updated once SEBI publishes the anchor filing.

Lead Managers (Merchant Bankers)

  • Motilal Oswal Investment Advisors
  • Equirus Capital

IPO Registrar

The registrar for Online Instruments IPO will be confirmed in the Red Herring Prospectus. The registrar handles allotment, refunds, and dematerialisation of shares.

Editorial Review

Online Instruments (India) filed its DRHP with SEBI on 11 May 2026 for a mainboard IPO — ₹750 crore fresh issue + 57.10 lakh equity-share OFS. Bangalore-based AVSI integration franchise with 20+ years of operating history. The detailed fresh-issue proceeds allocation (₹160 crore debt + ₹330 crore working capital + balance for inorganic-growth and GCP) is investor-friendly compared to generic 'general corporate purposes' framing in many IPOs. The AVSI category is structurally interesting. Audiovisual systems integration for UCC environments, smart conference rooms, large auditoriums, network operating command centres — these are infrastructure-deployment categories that have grown materially through 2020-26 driven by hybrid-and-remote work normalisation, government digital-infrastructure programmes, and education-sector smart-classroom upgrades. The Indian AVSI market is fragmented with many small integrators but few scale players — Online Instruments' multi-decade customer base provides defensible recurring-services revenue alongside one-time-deployment revenue. What the bull case rests on: (1) AVSI category structural growth from hybrid-work normalisation, government digital infrastructure, and education sector spending; (2) 20+ year operating history provides multi-cycle business-cycle resilience; (3) detailed fresh-issue proceeds allocation signals capital-deployment discipline — debt reduction + WC + targeted M&A; (4) ₹750 crore fresh-issue size is appropriate for the category — large enough to fund meaningful WC expansion and selective M&A, small enough that dilution remains manageable; (5) lead managers MOIA + Equirus signal full institutional book-build expectation; (6) Bangalore HQ aligns with India's largest enterprise-deployment customer concentration. What the bear case rests on: (1) AVSI lacks pure-play listed peer benchmark — Persistent, Mphasis are software-services dominant; Sify is data-centre dominant; comparison framework is loose; (2) integration-business margins are structurally lower than software-services because hardware-procurement margin is thin (typically 8-15% gross margin on hardware vs 30%+ on software-services); (3) inorganic-growth proceeds for 'unidentified acquisitions' carry execution risk — M&A integration in integration-services is historically difficult; (4) customer-concentration risk — enterprise + government + education sales cycles are 6-18 months; loss of major customer relationships materially impacts revenue; (5) competitive intensity rising — global IT-services firms (TCS, Infosys, Wipro Premier Business Solutions) and Indian system integrators (Tata Communications, Telindus, OneCloud Networks) all overlap with AVSI deployment scope. Neutral pre-RHP. The category framing is attractive — AVSI sits in the right structural-growth vectors. But the pricing-vs-margin reality (integration margins lower than software-services), absence of clean listed-peer benchmark, and M&A-execution risk leave the risk-reward range wide. Wait for the RHP with financial granularity, customer-concentration disclosure, and margin trajectory. Compare valuation against IT-services adjacencies when announced. Sizing moderate given the limited listed-peer benchmark.

How to Apply for Online Instruments IPO

  1. Open broker app — Zerodha, Upstox, Angel One, Groww, 5paisa, ICICI Direct, or any other SEBI-registered broker. Navigate to the IPO section.
  2. Select Online Instruments IPO during the bidding window ().
  3. Enter bid details — minimum TBA shares per lot. Retail investors are recommended to bid at cut-off price (upper band).
  4. Submit UPI ID linked to a SEBI-approved bank.
  5. Approve UPI mandate from your UPI app within the deadline. Bid amount is blocked, not debited.
  6. Await allotment on .
  7. Listing day — shares list on Both on .

Risk Factors

1. AVSI lacks pure-play listed peer benchmark — Persistent, Mphasis, Sify Technologies are partial-comp adjacencies; pricing-discovery is structurally less robust than for categories with multiple listed comps. 2. Hardware-procurement margin compression — AVSI integration includes hardware pass-through revenue at low gross margins (8-15%); rising hardware-pricing pressure compresses overall gross margin without software-services offsets. 3. M&A execution risk — fresh-issue proceeds include unidentified-acquisition deployment; integration-services M&A historically has execution-difficulty and culture-integration challenges. 4. Customer-concentration risk — enterprise + government + education AVSI customers are large-ticket but limited in number; loss of single major customer materially impacts revenue. 5. Competitive intensity rising — global IT-services firms (TCS, Infosys, Wipro Premier Business Solutions) and Indian system integrators (Tata Comms, Telindus) overlap with AVSI deployment scope. 6. Government sales-cycle dependency — Smart Cities, BharatNet, defence command-and-control deployments depend on government tender cycles. Cycle delays compress quarterly revenue patterns. 7. RHP-disclosure pending — anchor list, financials, customer-segment revenue mix, gross margin by service-line, EBITDA trajectory — all not yet public.

Online Instruments IPO — FAQs

What is Online Instruments IPO?
Online Instruments IPO is a mainboard initial public offering listing on Both. The issue opens on — and closes on — with a price band of TBA per share.
What is the Online Instruments IPO price band?
The price band for Online Instruments IPO is TBA per equity share of face value ₹10 (typical). Retail investors are recommended to bid at the upper band (cut-off price).
What is the Online Instruments IPO lot size?
The minimum lot size for Online Instruments IPO is TBA shares per application. Minimum retail investment at the upper price band works out to approximately TBA.
When is the Online Instruments IPO opening date?
Online Instruments IPO opens for subscription on — and closes on —.
When is the Online Instruments IPO allotment date?
Basis of allotment is expected on —. Check your status on the registrar's website using your PAN.
When is the Online Instruments IPO listing date?
Online Instruments shares are expected to list on Both on —.
What is the GMP of Online Instruments IPO?
GMP for Online Instruments is not currently tracked.
Who is the registrar of Online Instruments IPO?
The registrar is handling allotment, refunds, and dematerialisation for Online Instruments IPO.
How can I apply for Online Instruments IPO?
Apply via any SEBI-registered broker (Zerodha, Upstox, Angel One, Groww, 5paisa, ICICI Direct) during the open window. Use UPI mandate or ASBA for fund blocking. Bid at cut-off for retail category.
What is the minimum investment?
Minimum retail investment is approximately TBA (1 lot × TBA shares at upper band).
Should I apply for Online Instruments IPO?
Whether to apply depends on your goals, risk appetite, and the company's fundamentals. Review the RHP, compare valuation with peers, and consult a SEBI-registered advisor.
What happens if my allotment fails?
Bid amount blocked via UPI/ASBA is released back within 24-48 hours. Apply through multiple family demat accounts to improve odds on oversubscribed issues.

Information shown is for educational purposes and does not constitute investment advice. GMP values are unofficial estimates from informal grey market sources. Please read the offer document (Red Herring Prospectus) carefully before investing.

Data sourced from NSE, BSE, the issue's registrar, and public filings. BasicFintech is not affiliated with the issuing company, its underwriters, or the exchanges.

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