Bookbuilding IPO | ₹[.] Cr | Listing at NSE SME |
Mittal Commerce Classes Ltd. has withdrawn its Initial Public Offer (IPO) documents filed with the exchange on May 8, 2025.
Mittal Commerce Classes Ltd. IPO was a Book Build Issue
The equity shares were proposed to be listed on the NSE SME. Seren Capital Pvt.Ltd. was the book running lead manager and Skyline Financial Services Pvt.Ltd. was the registrar of the issue.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Tue, Nov 19, 2024 |
| Offer document withdrawn | Thu, May 8, 2025 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue. |
| NII Shares Offered | Not less than 15% of the Net Issue. |
Incorporated in February 2010, Mittal Commerce Classes Limited operates digitally-enabled institutes offering coaching for commerce-related courses.
The company specialises in preparing students for Chartered Accountancy (CA) and Cost Management Accountancy (CMA) exams, offering courses like CA Foundation, CA Intermediate, CA Final, and CMA Foundation.
They also coach high school students in commerce for CBSE Class XI and XII exams.
The company provides various learning modes to accommodate students' needs, including face-to-face sessions, live online classes, and recorded lectures.
As of October 31, 2024, the company operates six coaching centers: three company-owned in Jaipur and three franchisee centers in New Delhi, Kolkata, and Jodhpur.
The company plans to open 11 more coaching centres in key locations over the next 2 years, including Gurugram, Kolkata, Delhi, Lucknow, Faridabad, Jaipur, Nagpur, Raipur, Ahmedabad, and two in Mumbai.
As of September 30, 2024, the faculty team consists of 50 qualified teaching professionals.
Competitive Strength:
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 8.81 | 7.55 | 4.22 | 3.20 |
| Total Income | 4.44 | 13.61 | 7.50 | 2.24 |
| Profit After Tax | 1.03 | 3.41 | 0.07 | 0.13 |
| NET Worth | 5.30 | 4.27 | 0.86 | 0.78 |
| Reserves and Surplus | 1.10 | 2.03 | 0.72 | 0.64 |
| Total Borrowing | 0.80 | 0.72 | 1.15 | 0.77 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of capital expenditure towards setting up of new coaching centers and for security deposits of the new centres | 7.65 |
| 2 | Branding and Marketing expenditure | 2.50 |
| 3 | General Corporate Purpose |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 133.16% |
| ROCE | 94.88% |
| Debt/Equity | 0.17 |
| RoNW | 79.94% |
| PAT Margin | 25.07% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 99.99% |
Lead Manager Reports
Mittal Commerce Classes IPO is a SME IPO of 0 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Mittal Commerce Classes IPO open and close dates are not available as of now.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Mittal Commerce Classes IPO using UPI as a payment gateway. Zerodha customers can apply in Mittal Commerce Classes IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mittal Commerce Classes IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mittal Commerce Classes IPO dates are not announced. Please check back again after some time.
Mittal Commerce Classes IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Mittal Commerce Classes 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 Mittal Commerce Classes IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Mittal Commerce Classes IPO allotment status.
The Mittal Commerce Classes IPO listing date is not yet announced. The tentative date of listing is .
