Chetana Education Ltd, a textbook publishing company, is launching its initial public offering (IPO) on Wednesday, July 24, which will remain open for subscription until Friday, July 26. The price range for the IPO is set between ₹80 to ₹85 per share. Investors need to buy at least one lot of 1,600 shares, which requires a minimum investment of ₹1.36 lakh.
Key dates for the IPO include the finalization of share allotment on July 29 and the listing of Chetana Education shares on NSE SME on July 31. Shares will be credited to the investors’ demat accounts on July 30, and refunds for unsuccessful bidders will also be processed on the same day.
Chetana Education aims to raise ₹45.90 crore by issuing 54 lakh new equity shares. Of the total issue, 50% is reserved for Qualified Institutional Bidders (QIB), 35% for retail investors, and 15% for Non-Institutional Investors (NII).
The funds raised will be used to repay some of the company’s outstanding loans, meet working capital requirements, and for general corporate purposes.
Hem Securities Limited is the lead manager for the IPO, and Link Intime India Private Ltd is the registrar.
Chetana Education IPO GMP Today
The grey market premium (GMP) for Chetana Education’s IPO is ₹11 per share, indicating that the shares are trading at ₹96 per share in the grey market, which is 12.94% higher than the issue price of ₹85 per share.
About Chetana Education Ltd
Chetana Education Ltd publishes textbooks for the CBSE/State Board curriculum for students in kindergarten through 12th grade. They also create educational software and videos for teachers and students, accessible via QR codes.
In FY23, Chetana Education sold over 6 million books for various grade levels, from pre-primary to senior secondary. The company collaborates with over 400 contract authors to create its content.
For FY24, Chetana Education reported a standalone revenue from operations of ₹93.50 crore and a net profit of ₹12.03 crore.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
