Chetana Education IPO opens on July 24, Great Deal or not

Chetana Education IPO price band sets to Rs. 80 to Rs. 85 per equity share with a face value of Rs. 10 each. The IPO is a book-built issue of Rs. 45.90 crores. The issue is entirely fresh issue of up to 54.00 lakh equity shares (including Market Maker Portion of 2,73,600 equity shares).

Chetana Education IPO subscription starts on Wednesday, July 24, 2024 and ends on Friday, July 26, 2024. The allotment for the Chetana Education IPO is expected to be finalized on Monday, July 29, 2024. Chetana Education IPO will list on NSE SME (small and medium enterprises) with tempting listing date fixed as Wednesday, July 31, 2024.

The minimum order quantity of the issue is 1,600 equity shares. The minimum amount of investment required for Retail is ₹1,36,000. The minimum bid size for sHNI is 2 lots aggregating to ₹2,72,000. The company has reserved 50% shares of the issue for QIB’s (Qualified Institutional Buyers), 15% for NII’s (Non-institutional Investors) and 35% for Retail.

Hem Securities Limited is book-running lead manager to the IPO. Axis Bank Limited is sponsor bank to the issue. Link Intime India Private Limited is registrar to Chetana Education IPO.

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Chetana Education Limited Financial Information –

Chetana Education Limited’s revenue increased by 23.89% and profit after tax (PAT) rose up by staggering 75.57% in Financial Year 2024, as compared to FY2023.

Risk Factors –

• The Company is intricately tied to the academic cycle, as a result, revenue and profitability may not be comparable from one period to another.
• The promoters and directors of Company are involved in certain legal proceedings.
• The Company had negative net cash flows in the past.

Objects of the Issue –

The Company proposes to utilize the Net Proceeds of the issue to meet the following objects:-

• Repayment of certain borrowing availed by the Company, in part or full
• To meet Working Capital Requirements
• General Corporate Purposes.

About Chetana Education Limited – (https://chetanaeducation.com/)

Chetana Education is K-12 Educational Publisher in India. Chetana has been a major force in K12 segment with more than 1000 titles published every year and more than 10 million books published in English, Hindi, Marathi, Gujarati, Bengali and Tamil language. Chetana books are referred not only in India but UAE, Sri Lanka, Nepal, Afghanistan also.

Chetana Publications is among top 3 educational publishers in Maharashtra providing complete range of High Quality books for Preprimary, Primary, Secondary and Junior college sections for Maharashtra State Board and for CBSE and ICSE board school s too. Firefly Plus, Nine Hats, Magic Lamp, Little Star, Magic World, Grade Me, Master Key, Self Study, Ideal Test Papers are the registered brands of Chetana Publications.