From its humble beginnings as a telecommunications distribution company in 1994, Online Instruments India Pvt. Ltd. is today a leading systems integration and audio-visual (AV) solutions company with a global presence. Offering a wide range of cutting-edge technologies, including AV integration, display solutions, lighting, and automation, the company has built its success on the foundation of the trust of its customers, its talented team of 500-plus employees, and a broad base of partners and suppliers.
The company is looking to the future with ambitious plans, including the set-up of India’s first automated CKD (Completely Knocked Down) manufacturing unit, a global expansion to Western markets, and an upcoming IPO (Initial Public Offer) in September 2025, setting the stage for the company to embrace new opportunities for growth and change.
The desire to solve a problem one has experienced in daily life has inspired ideas for some of the world’s largest companies. The story of how Online Instruments began is no different.
From modest beginnings to industry leadership, Online Instruments celebrates three decades of growth with a bold vision for the future.
Shivanand Mahashetti
Co-founder, and CEO of Online Instruments
Shivanand Mahashetti, co-founder and CEO of Online Instruments, shares how it all started. “In the early 90s, Mahesh Bellad (current co-founder and CFO of Online Instruments) and I began servicing educational Institutions, specifically technical colleges, with the supply and service of test and measuring instruments. The equipment used to have many technical issues, which affected students often. We had the fire to build something new, so we started manufacturing this equipment ourselves. Our goal at the time was to achieve a turnover of 100 crore by the time we turned 70. However, through hard work and by the grace of God, we have surpassed that target.”
With three partners on board, Online Instruments then started the telecommunications product distribution business in parts of Karnataka. “Recognizing our potential, Panasonic approached us to become their sole distributor for South India. We began importing and distributing products and expanded our offerings to include Polycom audio and video conferencing units, mobile phones, projectors, CCTV cameras, projector displays, and SIM cards,” says Shivanand.
Building the AV division from scratch
In 2006, Online Instruments ventured into the AV solutions business. “Although we did not have experience in this space, we received a lot of support and trust from our corporate clients. We didn’t make money at first, but we gained a lot of
experience and confidence, which was invaluable to us.” Shivanand explains that bagging their first major project valued
at ₹ 4.5 crores was a turning point. “This project taught us many lessons and helped us strengthen our presence in the
AV industry,” he explains
Gradually, the company started expanding its offerings and purchasing AV accessories. Setbacks came disguised as opportunities, as Shivanand recounts how a frustrating experience with a supplier motivated him to start their own manufacturing.
Rising from the ashes
In 2006, the company faced a setback when one of its major partners retired, affecting its working capital and cash flow. However, the team overcame the situation.
The following year, another crisis struck in the most unexpected way. Shivanand shares his experience from that trying time. “In 2007, our office caught fire because of a short circuit. The fire caused significant damage to our stock and equipment, and we lost everything. Following this, we had to settle numerous claims, and the financial strain was immense. Everything seemed to have turned to ash, and it was a dark time for us. Our business did not decline, but the financial pressure caused us significant stress and sleepless nights,” says Shivanand.
But there is always light at the end of the tunnel. “Once again, God gave us the strength to rebuild the business. We borrowed money and restarted, which gave us a fresh start in 2007,” he reminisces.
Shivanand mentions that out of the 25 employees the company had, 19 are still with them. “At Online Instruments, our team is a family, built on relationships and a decentralized decision-making approach. We strive to create a respectful and inclusive environment for everyone,” he adds.
The birth of LOGIC: Lighting up the world with visual transformation solutions
In 2006, LOGIC was set up as a brand of Online Instruments Pvt. Ltd., offering customers a wide range of AV accessories and display solutions. Pankaj Bellad, Director of Online Instruments and Business Head of LOGIC, shares, “Initially, our focus was on projector screens and mounting solutions, and over time, we expanded to offer a comprehensive range of AV accessories to meet customer needs.”
A proudly Indian company with a global footprint, LOGIC serves three market segments. Pankaj elaborates: “In the enterprise business, we offer a diverse range of accessory solutions and LED Display Products aimed at creating workplaces of the future. We recently introduced the 138” single AIO (All-In-One) displays, and we will be the first in India to introduce the innovative COB (chip-on-board) technology AIO displays.”
The booming Indian education market is also significant for LOGIC. “In education, we focus on interactive displays. We plan to start manufacturing in India, making us the second-largest player in the world in terms of automation. Our AR and VR business has yet to gain momentum, but it will happen in time as we see it as a business of the future,” shares Pankaj.
“Third is the retail segment with a product line of signage products. We do a lot of digital branding for merchandise showrooms and work with nearly 80+ brands. You can see our displays at Terminal 2 of the Bangalore Airport. We also work with a few digital signage software brands exclusively to build a complete solution,” he highlights.
“In the next few months, we plan to introduce new innovative technologies to the Experience Centre that will give our customers and partners a glimpse of tomorrow’s technology today,” adds Shivanand.
Harnessing opportunities for diversification and growth
After more than a decade in the business, the company began to consider diversifying its line of business. “We wanted to explore new opportunities and focus on manufacturing. Ultimately, we decided to start a lighting business,” says Shivanand
“In 2015, we started importing lighting products under the Orange Plus brand for the retail and institutional segments. Mahabell Industries, a 100% subsidiary of Online Instruments, began in 2017, making our dream of setting up a world-class electronics manufacturing facility for domestic and international markets a reality. Located in the ITI Industrial Estate in Whitefield, Bangalore, the factory spans 50,000 sq. ft. across five floors.”
In 2016, the company engaged EY as its consultancy firm, who recognized the company’s potential for growth. “This inspired us to take the company public, which could accelerate our growth from a 10-year timeline to 3 years or even less,” says Shivanand.
Things began to change with the onset of the COVID-19 pandemic. “The pandemic significantly impacted our IT customer base, leading to a decline in revenue and minimal growth for the first time in our company’s history,” explains Shivanand.
Empowering communities
Online Instruments is passionate about creating inclusive learning environments for rural students to thrive through technology. Pankaj explains how the company is driving positive change. “We are transforming learning environments in underserved schools by providing modern technologies like displays and smartbooks, infrastructure and facility improvements, and sports equipment. Recently, we donated a high-end telescope, which we believe is the first for any school in the area. We have adopted 30 schools in North Karnataka to provide international education standards to rural communities.”
Shivanand emphasizes the company’s commitment to providing equal job opportunities, particularly in rural areas where such opportunities are scarce. “We conduct campus recruitment interviews in these areas, and many people begin their careers with us as freshers,” he says.
A bold vision for the future
After three decades in the business, Online Instruments is pushing the boundaries with ambitious plans for the future. Shivanand shares their vision: “Our vision is to become a global company, reaching as many people as possible worldwide. We are not limited to system integration or manufacturing displays; we want to go beyond that. Our goal is to be a major player on the global stage.”
Tapping into the capital market will be a critical enabler for this vision. Shivanand shares their plans to take the company public in FY 25-26, possibly in September 2025. “We will be India’s first system integration company to go public. This move will open up multiple opportunities to expand our business and enter larger markets like the U.S.,”
he adds.
The company currently has offices in 6 cities in India and operations in the Philippines, Singapore, Dubai, Saudi Arabia, and Taiwan. “After the IPO, we plan to set up offices in the U.S. with a focus on our systems integration business, the sale of our own branded products, and ODM (Original Design Manufacturer) branded products. We also aim to expand to Europe, Australia, and other potential countries to establish our presence further.”
The company will also start a new factory in Dabaspete, Nelamangala, Bangalore. “This will be India’s first and the world’s second-largest automated CKD factory manufacturing interactive commercial panel display units. Employing over 150 people, the factory will produce 100,000 panels annually. The factory will open formally in mid-August this year, and we are thrilled to showcase the factory to the world,” explains Shivanand
“As part of our plans for Mahabell Industries, we plan to create unique AV products, such as pods (AV Frames for Collaboration Spaces) and retractable cable managers, for the global market. We are also expanding the factory to have one integrated end-to-end manufacturing facility in one location, aiming to create the factory of the future,” highlights Shivanand.
Another core focus is building strength in software development, emphasizes Pankaj. “We are investing in building capabilities, skills, and new talent. Initially, we will use this software in-house and eventually make it available to customers in the future,” he says.
With these ambitious plans in the making, Shivanand concludes by saying that the company’s journey thus far is just the trailer to the main movie, with the première of the anticipated IPO marking the start of the show.
A true pioneer with a rich legacy of achievements, Online Instruments is all set to make a mark on the world and bring the best of ‘Make in India’ products to global markets. As the company embarks on this next phase of its journey, we wish them the best and look forward to witnessing them soar to greater heights.
