Orange Plus, a flagship brand of the ₹400-crore group Online Instruments (India) Pvt Ltd, is planning to tap the market in two years.
Ramesh TS, Director of Orange Plus, told BusinessLine that the company had hired Ernst & Young to take it public.
IPO by 2021
“OPL covers the entire gamut of LED solutions. The brand is making India more competitive in the green energy sector by reducing India’s carbon footprint. Guided by OLI as the parent company, we have a strong framework, experience as well as manufacturing and technological advantage in this framework. OLI is poised to announce an IPO by 2021 and is being led by EY to achieve this,” Ramesh, who is also a director of the group, said.
The company has grown from being in the distribution business to AV integration capabilities and then strengthening its offering with its own in-house brands. With 25 years of experience, OLI has now embarked to address the LED lighting industry through its own brand Orange Plus LED (OPL).
OPL is expanding its distribution network from 100 to 400 in 2019. By capitalising on technology and the distribution framework, the company is looking to build an omni-channel presence. Tier 2 and 3 cities will define the company’s progressive growth.
Product range
The company aims to offer ecologically advanced LED lighting solutions for customers through its experience centres. OPL will also introduce 23 new models this year. It expects to become a Rs 150 crore brand by 2021-2022.
Its manufacturing plant is spread over 50,000 sq ft and its product portfolio consists of all high demand indoor, outdoor, commercial and professional range of products.
The manufacturing facility employs 100-plus people in one shift which will soon be expanded to 250 plus people in two shifts. The facility can produce over 4000 indoor and 2000 outdoor units per day.