This is a Vintage Spanish guitar with the label of an old Madrid shop called Instro-musi that no longer exists now. Back in the day, instrument shops would rebrand guitars provided by luthiers from the area. This one is not signed, but i used Google Lens to find a match and I found another one online with with the exact same soundhole Rosette design so it could be a Luis Arostegui Granados which was a very well regarded luthier from Madrid (I attached this photo as reference). Undoubtedly, it's a handmade spanish guitar made with good materials and a great sound.