. The issue is entirely a fresh issue of 54 lakh shares. Chetana Education IPO is a book built issue of Rs 45.90 crores
Chetana Education IPO opens for subscription on July 24, 2024 and closes on 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 with tentative listing date fixed as Wednesday, July 31, 2024.
Chetana Education IPO price band is set at ₹80 to ₹85 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹136,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹272,000.
Hem Securities Limited is the book running lead manager of the Chetana Education IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Chetana Education IPO is Hem Finlease.
About Chetana Education Limited
Established in 2017, Chetana Education Limited specializes in publishing textbooks for CBSE/State Board curriculum for K-12 segment and educational software for educational videos for teachers and students accessible through QR (Quick Response) codes.
Chetana Education currently caters to the Maharashtra State Board and the Central Board of Secondary Education (CBSE) and covers the entire spectrum of textbooks from early pre-primary education to K-12 courses. The company has sold more than 6 million books for students at various grade levels, from pre-primary to primary, secondary and senior secondary. The company works with over 400 contract authors who contribute to the creation of content for the company.
The company has a portfolio of 700 titles (as of 2023) with 15 different brands including Master Key, Self-Study, Firefly, Bright Buddies, My Skill Book, Grade Me, QR Series, etc. The company has also developed a range of digital content to enhance students’ understanding of specific subjects and harness the content usable for a better learning experience. The company has entered into a strategic partnership with Allern Enterprises Private Limited, an edtech company, and has produced over 30,000 videos that can be accessed through QR codes.
As of January 2024, the company has a distribution and sales network consisting of more than 500 distributors and dealers and a dedicated sales team working in branches and marketing offices across India.
As of December 31, 2023, the company employed a total of 470 people.
Refer to Chetana Education IPO DRHP for detailed information.
Chetana Education IPO Details
| IPO Date | July 24, 2024 to July 26, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹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 |
| Share holding pre issue | 15,000,000 |
| Share holding post issue | 20,400,000 |
| Market Maker portion | 273,600 shares |
Chetana Education IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Chetana Education IPO Timeline (Tentative Schedule)
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 |
| 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 |
Chetana Education IPO Lot Size
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹136,000 |
| Retail (Max) | 1 | 1600 | ₹136,000 |
| HNI (Min) | 2 | 3,200 | ₹272,000 |
Chetana Education IPO Promoter Holding
Anil Jayantilal Rambhia, Rakesh Jayantilal Rambhia & Shilpa Anil Rambhia are the company's promoters.| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
Chetana Education Limited Financial Information (Restated Standalone)
| Period Ended | 21 Jan 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 6,682.64 | 8,315.08 | 7,605.82 | 6,825.10 |
| Revenue | 5,328.34 | 7,560.77 | 4,312.21 | 3,270.96 |
| Profit After Tax | 178.92 | 685.47 | 168.06 | 280.30 |
| Net Worth | 1,500.00 | 2,281.92 | 1,947.33 | 2,091.10 |
| Total Borrowing | 4,085.17 | 4,299.50 | 3,876.03 | 3,487.85 |
Objects of the Issue (Chetana Education IPO Objectives)
The company intends to utilize the 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; and
- General Corporate Purpose.
Chetana Education Limited Contact Details
401, E-Wing, B & C Block,
Trade Link, Kamala Mill, Delisle Road,
Mumbai, Mumbai City – 400013
Phone: +91-22-6245 6000
Email: cs@chetanaeducation.com
Website: http://www.chetanaeducation.com/
