Fusion Klassroom raises over Rs 11 crore from anchor investors; SME IPO to open on Friday
Fusion Klassroom Edutech has successfully secured Rs 11.08 crore from key anchor investors. The company is set to launch its initial public offering on July 31st, with the IPO valued at Rs 39.04 crore, which will remain open until August 4th. Foll...
By PTI |
Agencies
Fusion Klassroom Edutech on Thursday raised Rs 11.08 crore from anchor investors ahead of its initial share sale, which will open for public subscription on July 31.
The Mumbai-based company has allocated over 6.96 lakh equity shares at an anchor investor price of Rs 159 per share to six entities, including Subhkam Ventures (I) Pvt Ltd, Kuber India Opportunity Fund and Ekamya Pragati Scheme I, according to a circular uploaded on BSE's website.
The Rs 39.04 crore initial public offering (IPO) will conclude on August 4, and the company's shares are proposed to be listed on the BSE SME platform with a tentative listing date fixed on August 7.
The IPO comprises a fresh issue of up to 19.89 lakh equity shares and an Offer-for-Sale of up to 4.65 lakh shares by promoters and investors.
Net proceeds from the fresh issue will be utilised to repay debt, for expenditure towards technology & AI/ML model development, servers and cloud infrastructure, content development and procurement of desktops and laptops for the new offline centres' AI/ML labs.
Funds will also be used by the company towards marketing initiatives and general corporate purposes.
Incorporated in 2016, Fusion Klassroom Edutech Ltd is an education technology company focused on providing professional and competitive examination coaching through digital and hybrid learning models across the country.
It offers coaching programs for courses such as CA, CS, CMA, and other commerce-related examinations.
On the financial front, the company reported its total income at Rs 23.10 crore and profit after tax of Rs 7.6 crore in FY26.
Narnolia Financial Services Ltd is the sole book-running lead manager for the IPO.
The Mumbai-based company has allocated over 6.96 lakh equity shares at an anchor investor price of Rs 159 per share to six entities, including Subhkam Ventures (I) Pvt Ltd, Kuber India Opportunity Fund and Ekamya Pragati Scheme I, according to a circular uploaded on BSE's website.
The Rs 39.04 crore initial public offering (IPO) will conclude on August 4, and the company's shares are proposed to be listed on the BSE SME platform with a tentative listing date fixed on August 7.
The IPO comprises a fresh issue of up to 19.89 lakh equity shares and an Offer-for-Sale of up to 4.65 lakh shares by promoters and investors.
Net proceeds from the fresh issue will be utilised to repay debt, for expenditure towards technology & AI/ML model development, servers and cloud infrastructure, content development and procurement of desktops and laptops for the new offline centres' AI/ML labs.
Funds will also be used by the company towards marketing initiatives and general corporate purposes.
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Incorporated in 2016, Fusion Klassroom Edutech Ltd is an education technology company focused on providing professional and competitive examination coaching through digital and hybrid learning models across the country.
It offers coaching programs for courses such as CA, CS, CMA, and other commerce-related examinations.
On the financial front, the company reported its total income at Rs 23.10 crore and profit after tax of Rs 7.6 crore in FY26.
Narnolia Financial Services Ltd is the sole book-running lead manager for the IPO.
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