Bangalore-based Online Instruments (India) Limited has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO).

The IPO, with a face value of Rs 2, is a fresh issue up to Rs 750 crore and an offer for sale up to 5,710,000 shares by promoters – Anita Mahesh Bellad, and Rajeshwari Shivanand Mahashetti.

The proceeds from its fresh issuance worth Rs 160 crore will be utilised for repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the company, Rs 330 crore for funding working capital requirements of the company, funding inorganic growth through unidentified acquisitions, and general corporate purposes

The issue is being made through the book-building process, in line with SEBI ICDR Regulations, with not more than 50% reserved for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs), and not less than 35% for Retail Individual Investors (RIIs).

The company, in consultation with the book-running lead managers, may consider a pre-IPO Placement for up to Rs 150 crore. The pre-IPO placement if completed, the fresh issue size will be reduced.

Incorporated in 2006, the company provides audiovisual systems integration (AVSI) solutions and it is a well-established player in the Indian audio-visual system integration solutions market (Source – 1Lattice Report).

The company’s AVSI capabilities extend across the full breadth of a client’s project, with experience across diverse use cases, including unified communications and collaboration (“UCC”) solutions, as well as AVSI deployments for smart conference rooms, large auditoriums, network operating command centres, and customer experience centres.

The company’s AVSI solutions are offered under the company’s Online Instruments and Level 3 Audiovisual brands. In addition, the company manufactures interactive flat panel displays (IFPDs), provide light-emitting diode (LED) display products and offer audiovisual accessories under the company’s LOGIC brand.

The company also manufactures white-labelled IFPDs for original equipment manufacturers (OEMs).

Further, the company manufactures commercial lighting and architectural lighting products under their Orange Plus brand and for OEMs under their own brands (which it refers to as its Commercial Lighting business).

The company has three manufacturing facilities in Bengaluru. One of these facilities is its completely knocked down (CKD) manufacturing facility for IFPDs, which began commercial operations in November 2024. Its CKD facility is India’s first CKD facility for manufacturing IFPDs (Source – 1Lattice Report).

As of December 31, 2025, its CKD facility had an installed annual production capacity of 223,200 IFPDs (based on three shifts per day) (Source – as certified by the Independent Chartered Engineer by way of certificate dated May 7, 2026).

The company has over 20 years of experience in providing AVSI solutions. It provides AVSI solutions across diverse use cases, including for UCC environments as well as for smart conference rooms, large auditoriums, network operating command centres, and customer experience centres.

The company has deployed AVSI solutions across multiple countries, including India, Singapore, Malaysia, Taiwan, the Philippines and the United Arab Emirates, and with the earlier acquisition of Level 3 Audio Visual, LLC, expanding its operations to additional countries including USA, Mexico and France.

Its AVSI customers including enterprise, healthcare, banking, manufacturing, retail, education, project management consulting sectors and airports. As of December 31, 2025, the company had executed AVSI projects for 745 customers in India.

The company also manufactures IFPDs and provides LED display products under its LOGIC brand. The company’s display and workplace products are designed to integrate engineering specifications, design considerations and control functionality.

IFPDs are display solutions that incorporate a touch-sensitive screen to enable interactivity with on-screen content (Source – 1Lattice Report). Its IFPDs are designed for a variety of applications including classrooms, boardrooms and creative spaces. As of December 31, 2025, the company offered 12 stock keeping units (SKUs) of IFPDs, ranging in display size from 65 inches to 98 inches.

Its LED display products are designed for various uses including indoor and outdoor video walls, digital signage displays and interactive kiosks. As at December 31, 2025, the company offered 20 SKUs of LED display products, which ranged in pixel pitch from 0.7 mm to 2.5 mm for indoor applications and from 2.9 mm to 10.00 mm for outdoor applications.

Through its CKD Facility, the company manufactures white-labelled IFPDs for third-party OEMs.

The company also offers commercial lighting and architectural lighting products primarily for use in commercial settings, corporate offices, and infrastructure applications. Its lighting products primarily include suspended linear lights and downlights.

The company has customers in the United States, United Arab Emirates, Saudi Arabia, Singapore, Malaysia, Taiwan, the Philippines, Mexico and France.

Its revenue from operations was Rs 466.1 crore for the nine months ended December 31, 2025, and its net profit was Rs 14.5 crore.

Its revenue from operations was Rs 547.4 crore during FY25 as against Rs 335.9 during FY23.

Its net profit was Rs 35.3 crore during FY25 as against Rs 15.5 crore during FY23.

Equirus Capital Limited, and Motilal Investment Advisors are the book running lead managers, and MUFG Intime India Private Limited is the registrar to the issue. The shares are proposed to be listed on the BSE and NSE.