Winny Immigration and Education Services is gearing up to launch its Initial Public Offering (IPO) on June 20, aiming to raise more than ₹9 crore from the primary market. This IPO is specifically designed for small and medium enterprises (SMEs) and is a fixed price issue.
Price Band and Offering
The price band for Winny Immigration IPO has been set at ₹140 per share. The total size of the IPO is ₹9.13 crore, comprising a fresh issuance of 6.52 lakh equity shares.
Subscription and Lot Size
The IPO opens for subscription on June 20 and closes on June 24. Retail investors can participate with a minimum investment of ₹140,000, which covers a lot size of 1,000 shares. Allotment of shares is expected to be finalized by June 25, with listing on NSE SME scheduled tentatively for June 27.
Utilization of Funds
Proceeds from the IPO will be allocated towards expanding operations by opening new offices across India, software development, debt repayment, branding and advertising initiatives, and general corporate purposes.
Interactive Financial Services Ltd is the book running lead manager for the IPO, while Bigshare Services Pvt Ltd will serve as the registrar.
Promoter’s Stake
Following the IPO, promoter Jignesh Patel’s stake in Winny Immigration will decrease to 58.51% from the current 83.63%.
Business Overview
Winny Immigration and Education Services operates in the visa consultancy sector, providing support to individuals for study, travel, business, work, and migration purposes.
In the fiscal year 2024, the company reported a net profit of ₹39.27 lakh on a revenue of ₹11.02 crore, compared to ₹1.44 crore in net profit and ₹11.97 crore in revenue in FY23.
Grey Market Premium (GMP)
The grey market premium for Winny Immigration IPO currently stands at ₹49 per share, indicating strong investor interest with shares trading at ₹189 apiece, representing a 35% premium over the IPO price of ₹140 per share.
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