Bookbuilding IPO | ₹46 Cr | Listed at NSE SME | Wed, Jul 24, 2024 - Fri, Jul 26, 2024
Chetana Education IPO is a book build issue of ₹45.90 crores. The issue is entirely a fresh issue of 0.54 crore shares of ₹45.90 crore.
Chetana Education IPO bidding started from Jul 24, 2024 and ended on Jul 26, 2024. The allotment for Chetana Education IPO was finalized on Jul 29, 2024. The shares got listed on NSE SME on Jul 31, 2024.
Chetana Education IPO price band is set at ₹85 per share. The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,36,000 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,72,000.
Hem Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Hem Finlease Pvt.Ltd..
Refer to Chetana Education IPO RHP for detailed Information.
IPO Open
Wed, Jul 24, 2024
IPO Close
Fri, Jul 26, 2024
Issue Price
₹85 per share
Market Cap (Pre-IPO)
₹173.40 Cr
| IPO Date | 24 to 26 Jul, 2024 |
| Listed on | Wed, Jul 31, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹80 to ₹85 |
| Issue Price | ₹85 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 54,00,000 shares (agg. up to ₹46 Cr) |
| Reserved for Market Maker | 2,73,600 shares Hem Finlease Pvt.Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 51,26,400 shares (agg. up to ₹44 Cr) |
| Net Offered to Public | 51,26,400 shares (agg. up to ₹44 Cr) |
| Share Holding Pre Issue | 1,50,00,000 shares |
| Share Holding Post Issue | 2,04,00,000 shares |
| NSE Symbol | CHETANA |
| ISIN | CHETANA |
Chetana Education IPO comprises a total issue size of 54,00,000 shares. The net offer to the public is 51,26,400 shares, after excluding 2,73,600 shares allotted on a firm basis. Of the Net offer 25,61,600 (49.97%) are allocated to QIB, 7,69,600 (15.01%) allocated to NII 17,95,200 (35.02%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 25,61,600 | 49.97% | 47.44% |
| − Anchor Investor Shares Offered | 15,36,000 | 28.44% | |
| − QIB (Ex. Anchor) Shares Offered | 10,25,600 | 18.99% | |
| NII (HNI) Shares Offered | 7,69,600 | 15.01% | 14.25% |
| Retail Shares Offered | 17,95,200 | 35.02% | 33.24% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,73,600 | 5.07% | |
| Total Shares Offered | 54,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,36,000 |
| Retail (Max) | 1 | 1,600 | ₹1,36,000 |
| HNI (Min) | 2 | 3,200 | ₹2,72,000 |
Chetana Education IPO raises ₹13.06 crore from anchor investors. Chetana Education IPO Anchor bid date is July 23, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Jul 23, 2024 |
| Shares Offered | 15,36,000 |
| Anchor Portion (₹ Cr.) | 13.06 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Aug 28, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Oct 27, 2024 |
Established in 2017, Chetana Education Limited specializes in publishing textbooks for CBSE/State Board curriculum for the 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 over 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 for a better learning experience. The company has entered into a strategic partnership with Allern Enterprises Private Limited, an ed-tech 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 March 31, 2024, the company employed 408 people.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 94.75 | 83.15 | 76.06 | 68.25 |
| Total Income | 93.67 | 75.61 | 43.12 | 32.71 |
| Profit After Tax | 12.03 | 6.85 | 1.68 | 2.80 |
| NET Worth | 25.25 | 22.82 | 19.47 | 20.91 |
| Reserves and Surplus | 10.25 | |||
| Total Borrowing | 51.29 | 43.00 | 38.76 | 34.88 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment of certain borrowing availed by our Company, in part or full | 12.17 |
| 2 | To meet Working Capital requirements | 20.00 |
| 3 | General Corporate Purpose | 8.74 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 50.08% |
| ROCE | 26.87% |
| RoNW | 47.67% |
| PAT Margin | 12.87% |
| Price to Book Value | 5.05 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.02 | 5.90 |
| P/E (x) | 10.59 | 14.41 |
| Promoter Holding | 100% | 73.53% |
| Market Cap | ₹173.40 Cr. |
The Chetana Education IPO is subscribed 196.87 times on July 26, 2024 6:19:59 PM (Day 3). The public issue subscribed 135.11 times in the retail category, 101.22 times in the QIB category, and 468.42 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 101.22 | 10,25,600 | 10,38,06,400 |
| NII* | 468.42 | 7,69,600 | 36,04,92,800 |
| Retail | 135.11 | 17,95,200 | 24,25,56,800 |
| Total | 196.87 | 35,90,400 | 70,68,56,000 |
Total Application : 1,51,598
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manger Fees including Underwriting fees | 0.92 |
| 2 | Fees Payable to Registrar to the Issue | 0.03 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.25 |
| 4 | Fees Payable to Regulators including Stock Exchange | 0.10 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.02 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.06 |
| 7 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees*, Uploading fees and Miscellaneous Expenses) | 3.63 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹85.00 |
| Open | ₹98.90 |
| Low | ₹93.95 |
| High | ₹103.80 |
| Last Trade | ₹103.80 |
Lead Manager Reports
Chetana Education IPO is a SME IPO of 54,00,000 equity shares of the face value of ₹10 aggregating up to ₹46 Crores. The issue is priced at ₹85 per share. The minimum order quantity is 1600.
The IPO opens on Wed, Jul 24, 2024, and closes on Fri, Jul 26, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Chetana Education IPO using UPI as a payment gateway. Zerodha customers can apply in Chetana Education IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Chetana Education IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Chetana Education IPO opens on Wed, Jul 24, 2024 and closes on Fri, Jul 26, 2024.
Chetana Education IPO lot size is 1600, and the minimum amount required for application is ₹1,36,000.
You can apply in Chetana Education IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Chetana Education IPO will be done on Monday, July 29, 2024, and the allotted shares will be credited to your demat account by Tue, Jul 30, 2024. Check the Chetana Education IPO allotment status.
The Chetana Education IPO listing date is on Wed, Jul 31, 2024.
