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Chetana Education Limited IPO Detail

Chetana Education Limited IPO Detail

Established in 2017, Chetana Education Limited specializes in publishing textbooks for CBSE/State Board curriculum for 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 more than 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 usable for a better learning experience. The company has entered into a strategic partnership with Allern Enterprises Private Limited, an edtech 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 December 31, 2023, the company employed a total of 470 people.

Company Promoters

Anil Jayantilal Rambhia, Rakesh Jayantilal Rambhia & Shilpa Anil Rambhia are the company's promoters.

IPO Details

IPO Opening DateJul 24, 2024
IPO Closing DateJul 26, 2024
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹80 - 85 per equity share
Market Lot1600 Shares
Min Order Quantity1600 Shares
Listing AtNSE SME
Issue Size₹45.90 Cr
Fresh Issue5,400,000 shares (aggregating up to ₹45.90 Cr)
Offer for Sale-
Retail Portion 35%

IPO Subscription (Bidding Detail)

AS On QIB SHNI BHNI NII RII TOTAL
Day 1 4.20x 0.00x 0.00x 1.96x 2.52x 2.88x
Day 2 4.20x 0.00x 0.00x 11.10x 18.91x 13.03x
Day 3 101.22x 0.00x 0.00x 468.42x 135.11x 196.87x

IPO Tentative Timetable

The Chetana Education Limited IPO open date is Jul 24, 2024, and the close date is Jul 26, 2024. The issue may list on Jul 31, 2024.

IPO Open DateJul 24, 2024
IPO Close DateJul 26, 2024
Basis of Allotment DateJul 29, 2024
Initiation of RefundsJul 30, 2024
Credit of Shares to Demat AccountJul 30, 2024
IPO Listing DateJul 31, 2024

IPO Lot Size

The Chetana Education Limited IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹136000).

ApplicationLotsSharesAmount (Cut-off)
Minimum11600₹136000
Maximum11600₹136000

IPO Promoter Holding

Pre Issue Share Holding100.00%
Post Issue Share Holding73.53%

Company Financials:

For the year/period ended (₹ in Lakhs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Jan-24 6682.64 5328.34 178.92
31-Mar-23 8315.08 7560.77 685.47
31-Mar-22 7605.82 4312.21 168.06

Objects of the Issue:

The company intends to utilize the proceeds of the Issue to meet the following objects:

  1. Repayment of certain borrowing availed by the Company, in part or full;
  2. To meet Working Capital requirements; and
  3. General Corporate Purpose.

Chetana Education Limited IPO Registrar:

Link Intime India Private Ltd

Chetana Education Limited IPO Lead Manager(s):

Hem Securities Limited

Company Contact Information:

Chetana Education Limited

401, E-Wing, B & C Block, Trade Link, Kamala Mill, Delisle Road

Mumbai

Mumbai