Chetana Education IPO opens on July 24, 2024, and closes on July 26, 2024. The allotment for the Chetana Education IPO is anticipated to be completed on Monday, July 29, 2024. The IPO will be listed on the NSE and SME, with a tentative listing date set for Wednesday, July 31, 2024
The price band for the Chetana Education IPO is set at Rs 80 to Rs 85 per share. The IPO is a book-built issue of Rs 45.90 crores, entirely a fresh issue of 54 Lakhs shares.
Chetana Education IPO Details
| IPO Date | July 24, 2024 to July 26, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹80 to ₹85 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,400,000 shares (aggregating up to ₹45.90 Cr) |
| Fresh Issue | 5,400,000 shares (aggregating up to ₹45.90 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre-issue | 15,000,000 |
| Shareholding post-issue | 20,400,000 |
| Market Maker portion | 273,600 shares |
Chetana Education IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1600 | ₹136,000 |
| Retail (Max) | 1 | 1600 | ₹136,000 |
| HNI (Min) | 2 | 3200 | ₹272,000 |
Chetana Education IPO Objectives
The objectives of the Issue are:
- To Meet Working Capital Requirements; and
- General Corporate Purpose.
- Repayment of certain borrowing availed by the Company, in part or full;
About Chetana Education Limited
Established in 2017, Chetana Education Ltd specializes in printing and publishing textbooks for the K-12 segment, catering to both the CBSE and State Board curriculums. To enhance the educational experience, Chetana Education Ltd also offers educational software and videos for teachers and students.
Chetana Education serves the Maharashtra State Board and the Central Board of Secondary Education (CBSE), providing a comprehensive range of textbooks from early pre-primary education to K-12 courses. The company has sold over 6 million books across various grade levels, including pre-primary, primary, secondary, and senior secondary. With the support of over 400 contract authors, Chetana Education Ltd produces high-quality content for its textbooks.
As of 2023, the company’s portfolio includes 700 titles under 15 different brands, such as Master Key, Self-Study, Firefly, Bright Buddies, My Skill Book, Grade Me, and QR Series. Additionally, Chetana Education has developed a wide range of digital content to enhance students’ understanding of specific subjects, ensuring a better learning experience.
The company has entered into a strategic partnership with Allern Enterprises Private Limited, an ed-tech company, resulting in the production of over 30,000 educational videos. This collaboration underscores Chetana Education Ltd’s commitment to integrating digital solutions into traditional learning methods.
Chetana Education Limited Financial Information
Chetana Education Limited’s revenue increased by 23.89% and profit after tax (PAT) rose by 75.57% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 9,475.09 | 8,315.08 | 7,605.82 | 6,825.10 |
| Revenue | 9,367.06 | 7,560.77 | 4,312.21 | 3,270.96 |
| Profit After Tax | 1,203.47 | 685.47 | 168.06 | 280.30 |
| Net Worth | 2,524.55 | 2,281.92 | 1,947.33 | 2,091.10 |
| Reserves and Surplus | 1,024.55 | |||
| Total Borrowing | 5,128.73 | 4,299.50 | 3,876.03 | 3,487.85 |
Chetana Education IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Net offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net offer |
Chetana Education IPO Timeline
Chetana Education IPO opens on July 24, 2024, and closes on July 26, 2024.
| IPO Open Date | Wednesday, July 24, 2024 |
| IPO Close Date | Friday, July 26, 2024 |
| Basis of Allotment | Monday, July 29, 2024 |
| Initiation of Refunds | Tuesday, July 30, 2024 |
| A credit of Shares to Demat | Tuesday, July 30, 2024 |
| Listing Date | Wednesday, July 31, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 26, 2024 |
Conclusion
The Chetana Education IPO, opening on July 24, 2024, and closing on July 26, 2024, presents a compelling investment opportunity with a price band of Rs80 to Rs85 per share. The IPO aims to raise Rs45.90 crores through the issuance of 54 lakh fresh shares. As a well-established player in the K-12 textbook publishing sector, Chetana Education Ltd has shown significant growth in revenue and profit, emphasizing its strategic partnership with Allern Enterprises to integrate digital educational content. With plans to use the proceeds for working capital, corporate purposes, and debt repayment, the company is poised for further expansion and enhancement of its educational offerings.
