Chetana Education is a content-based company, specializing in educational book publishing for the CBSE/State Board curriculum catering to the K-12 segment. Additionally, it provides access to educational software for learning videos (for teachers and Students) accessible through QR (Quick Response) codes, backed by a comprehensive sales and distribution network.
| Bidding Dates |
|---|
| 24 Jul 2024 - 26 Jul 2024 |
| Subscription |
|---|
| 183x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,28,000 | 1 | 1 | 1600 | 5.4 M | ₹80 - ₹85 | 73.53 % | ₹432.0 M - ₹459.0 M | RHP DOC |
Chetana Education IPO SUBSCRIPTION STATUS
26 Jul '24Chetana Education IPO overall subscription rate was 183 times the total available shares
Chetana Education IPO retail subscription rate was 179.35 times in the retail segment
Chetana Education IPO non-institutional investor subscription rate was 622.44 times in the non-institutional investor category
Chetana Education IPO Qualified Institutional Bidder subscription rate was 53.73 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
26 Jul 2024 (Day 3) | 179.35x | 622.44x | 53.73x |
25 Jul 2024 (Day 2) | 24.68x | 15.14x | 2.23x |
24 Jul 2024 (Day 1) | 3.21x | 2.57x | 2.23x |
Chetana Education FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 120.4 | 935.1 | 69.3 | 66.0 | 22.6% |
| FY23 | 68.5 | 755.6 | 16.6 | -1.7 | 18.4% |
| FY22 | 16.8 | 430.9 | 55.0 | 54.4 | 14.1% |
Chetana Education IPO SUBSCRIPTION STATUS DETAILS
Chetana Education had 5.4 M shares on offer
Chetana Education IPO offer price was in the range ₹80 - ₹85
Chetana Education IPO minimum Investment was ₹128000
Chetana Education IPO issue size was ₹ 432.0 M - ₹ 459.0 M
Chetana Education had a minimum lot size of 1600 Shares per application
Chetana Education NUMBER OF SHARES ON OFFER
Chetana Education IPO IMPORTANT DATES
| Issue Open Date | 24 Jul 2024 |
| Issue close Date | 26 Jul 2024 |
| Allotment Date | 29 Jul 2024 |
| Refund Date | 30 Jul 2024 |
| Demat Account Credit Date | 30 Jul 2024 |
| Listing Date | 31 Jul 2024 |
| Listing on Exchange(s) | NSE |
| Chetana Education Allotment Status | Exchange |
Chetana Education IPO subscription opened on 24 Jul 2024, and closed on 26 Jul 2024
IPO allotment for Chetana Education was finalized on Monday, 29 Jul 2024
IPO listing for Chetana Education was on NSE on Wednesday, 31 Jul 2024
Chetana Education IPO LISTING GAINS
| Issue Price (adjusted) | 85.0 |
| Listing Open Price | 98.9 |
| Listing Close Price | 103.8 |
| Listing Gain% | 16.4% |
| Current Gain% | -44.4% |
Chetana Education Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Chetana Education Ltd. | 47.2 | 96.4 | 7.2 | -9.8 | 0.9 | 14.5 | 10.1 | 109.4 | 6.5 | 13.5 | -0.7 | 6.6 | -0.7 |
| MPS Ltd. | 2931.2 | 5014.1 | 26.6 | 1.4 | 6.2 | 29 | 18.4 | 784 | 6 | 173.2 | 16.3 | 110.1 | 19 |
| DB Corp Ltd. | 210.4 | 3750.7 | 10.7 | 2 | 1.6 | 13.7 | 10.4 | 2440.8 | 0.8 | 332 | -10.5 | 19.7 | 5.4 |
| Navneet Education Ltd. | 133.9 | 2961.4 | 8.8 | 0.2 | 1.7 | 1723.8 | 1371.8 | 1749 | -3.4 | 352 | -53.6 | 15.2 | 57.2 |
| Jagran Prakashan Ltd. | 63.5 | 1381.2 | 7 | 0.1 | 0.7 | 9.8 | 7.3 | 1999.5 | 0.3 | 197 | 50.4 | 9 | 50.4 |
| Sandesh Ltd. | 1134.4 | 858.7 | 8 | 0.3 | 1 | 4.6 | 4.3 | 458.1 | 38.2 | 65.8 | -14.6 | 141.7 | 26.7 |
Chetana Education INFORMATION ON IPO ISSUE
About Chetana Education
Chetana Education is a content-based company, specializing in educational book publishing for the CBSE/State Board curriculum catering to the K-12 segment. Additionally, it provides access to educational software for learning videos (for teachers and Students) accessible through QR (Quick Response) codes, backed by a comprehensive sales and distribution network.
Object of the Issue
- Repayment of certain borrowing availed by the company, in part or full
- To meet working capital requirements
- General corporate purpose
Chetana Education - PROMOTERS
| Name |
|---|
| Anil Jayantilal Rambhia |
| Rakesh Jayantilal Rambhia |
| Shilpa Anil Rambhia |
Chetana Education Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Chetana Education Registrar to the Issue
Link Intime India Private Limited
Chetana.smeipo@linkintime.co.in
Chetana Education Strengths
Focused digital and technology platform
The company's platform and approach empower students to engage actively, fostering a dynamic, flexible, and enriched educational experience, and can support locations across India where the availability of tuition teachers is poor or not easily affordable
Growth in K-12 segment
From FY22 to FY23, the company's K-12 operating revenue grew at a CAGR of 75.4%. It sells its content under different brands and through the sales teams, it has developed multiple touch points across the K-12 business
Widespread sales and distribution network
The company has a widespread sales and distribution network that spans 18 states and union territories, consisting of over 500 distributors and dealers
Chetana Education Risks
Cyclical business
The business is intricately tied to the academic cycle, making it somewhat cyclical in nature. As a result, its revenue and profitability may not be comparable from one period to another
Subject to constant changes
The company's product is subject to changing examination paper patterns and syllabi, and customer preferences. The inability to meet such needs or preferences may affect the business
Certain legal proceedings
The company's promoters and directors are involved in certain legal proceedings. These legal proceedings are pending at different levels of adjudication before various courts and forums
IPO FAQs
The promoters of the company are Anil Jayantilal Rambhia, Rakesh Jayantilal Rambhia and Shilpa Anil Rambhia.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 80.0 - 85.0.
The IPO application opens on Jul 24, 2024 and closes on Jul 26, 2024.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 128,000.0, the maximum value for this IPO is Rs 136,000.0.
This IPO will be allotted on Jul 29, 2024.
The refund will be credited to your account on Jul 30, 2024.
The allotted shares will be credited to your demat on Jul 30, 2024.
Chetana Education Ltd.’s shares listed on the stock exchanges on Jul 31, 2024.