Bookbuilding IPO | ₹99 Cr | Listed at BSE, NSE | Tue, Mar 27, 2012 - Thu, Mar 29, 2012
MT Educare IPO is a book build issue of ₹99.00 crores. The issue is a combination of fresh issue of 0.44 crore shares aggregating to ₹35.00 crores and offer for sale of 0.80 crore shares aggregating to ₹64.00 crores.
MT Educare IPO bidding started from Mar 27, 2012 and ended on Mar 29, 2012. The shares got listed on BSE, NSE on Apr 12, 2012.
MT Educare IPO price band is set at ₹80 per share. The lot size for an application is 80. The minimum amount of investment required by an retail is ₹6,400 (80 shares) (based on upper price). The lot size investment for sNII is 32 lots (2,560 shares), amounting to ₹2,04,800, and for bNII, it is 157 lots (12,560 shares), amounting to ₹10,04,800.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to MT Educare IPO RHP for detailed Information.
IPO Open
Tue, Mar 27, 2012
IPO Close
Thu, Mar 29, 2012
Issue Price
₹80 per share
Market Cap (Pre-IPO)
₹316.38 Cr
| IPO Date | 27 to 29 Mar, 2012 |
| Listed on | Thu, Apr 12, 2012 |
| Face Value | ₹10 per share |
| Price Band | ₹74 to ₹80 |
| Issue Price | ₹80 per share |
| Lot Size | 80 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,23,75,000 shares (agg. up to ₹99 Cr) |
| Fresh Issue | 43,75,000 shares (agg. up to ₹35 Cr) |
| Offer for Sale | 80,00,000 shares of ₹10 (agg. up to ₹64 Cr) |
| Share Holding Pre Issue | 3,51,72,872 shares |
| Share Holding Post Issue | 3,95,47,872 shares |
| BSE Script Code / NSE Symbol | 534312 / MTEDUCARE |
| ISIN | INE472M01018 |
MT Educare IPO comprises a total issue size of 1,23,75,000 shares. Out of which, 61,87,500 (50.00%) are allocated to QIB, 18,56,250 (15.00%) allocated to NII 43,31,250 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 61,87,500 | 50.00% | NA |
| − Anchor Investor Shares Offered | 17,37,914 | 14.04% | NA |
| − QIB (Ex. Anchor) Shares Offered | 44,49,586 | 35.96% | NA |
| NII (HNI) Shares Offered | 18,56,250 | 15.00% | NA |
| Retail Shares Offered | 43,31,250 | 35.00% | 54,140 |
| Total Shares Offered | 1,23,75,000 | 100.00% |
Investors can bid for a minimum of 80 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 80 | ₹6,400 |
| Retail (Max) | 31 | 2,480 | ₹1,98,400 |
| S-HNI (Min) | 32 | 2,560 | ₹2,04,800 |
| S-HNI (Max) | 156 | 12,480 | ₹9,98,400 |
| B-HNI (Min) | 157 | 12,560 | ₹10,04,800 |
Incorporated in 2006, MT Educare Limited is an education support and coaching services provider for students in the secondary and higher secondary school. Also they provide coaching services for students pursuing graduation degree in commerce, preparing for various competitive examinations and undertaking chartered accountancy examinations.
MT Educare has serviced over 58300 students in the year 2010 - 11, has over 1400 faculty & staff and 188 centres in 110 locations. MT Educare is one of the leading coaching services providers in Maharashtra, with primary operations in Mumbai with 138 Coaching Centres in 85 locations as on May 15, 2011. Additionally, They have recently started operations at six locations in New Delhi and Gurgaon under the brand "Study Mate – Powered by MT Educare" through HT Learning Centres Limited (“HTLCL”).
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Part financing the cost of construction of a PUC campus in Mangalore, Karnataka | 20.00 |
| 2 | Establishing new coaching centres at 20 locations | 5.00 |
| 3 | General corporate purposes | 6.33 |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 48.21% | 42.88% |
| Market Cap | ₹316.38 Cr. |
The MT Educare IPO is subscribed 4.8 times on March 29, 2012 5:00:00 PM (Day 3). The public issue subscribed 2.17 times in the retail category, 6.01 times in the QIB category, and 8 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 6.01 | 46,26,951 | |
| NII | 8 | 19,09,459 | |
| Retail | 2.17 | 44,55,405 | |
| Total | 4.8 | 1,09,91,815 |
CRISIL has assigned an IPO Grade 4 to MT Educare IPO. This means as per CRISIL, company has 'Above Average Fundamentals'. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Read MT Educare IPO Report
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager fees and underwriting commission | 3.55 |
| 2 | Registrar to the Issue | 0.36 |
| 3 | Advisors (Legal counsel, Registrar, Auditors etc.) | 1.61 |
| 4 | Bankers to the Issue | |
| 5 | Brokerage and selling commission | 0.45 |
| 6 | IPO Grading Expenses | 0.04 |
| 7 | Printing and Distribution | 0.93 |
| 8 | Advertising and Marketing | 1.40 |
| 9 | Others | 0.34 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹80.00 | ₹80.00 |
| Open | ₹86.05 | ₹86.05 |
| Low | ₹86.05 | ₹86.05 |
| High | ₹90.35 | ₹90.35 |
| Last Trade | ₹90.35 | ₹90.35 |
Lead Manager Reports
MT Educare IPO is a main-board IPO of 1,23,75,000 equity shares of the face value of ₹10 aggregating up to ₹99 Crores. The issue is priced at ₹80 per share. The minimum order quantity is 80.
The IPO opens on Tue, Mar 27, 2012, and closes on Thu, Mar 29, 2012.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in MT Educare IPO using UPI as a payment gateway. Zerodha customers can apply in MT Educare IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in MT Educare IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The MT Educare IPO opens on Tue, Mar 27, 2012 and closes on Thu, Mar 29, 2012.
MT Educare IPO lot size is 80, and the minimum amount required for application is ₹6,400.
You can apply in MT Educare 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 MT Educare IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the MT Educare IPO allotment status.
The MT Educare IPO listing date is on Thu, Apr 12, 2012.
