Chetana Education stock debuts with 16.35% premium on NSE SME platform
The IPO of 54 lakh fresh equity shares was oversubscribed by over 150 times, driven by strong NII demand. Net proceeds will fund debt repayment, working capital, and corporate needs. Chetana Education specializes in K-12 educational publishing and...
By Akash Podishetti, ETMarkets.com |
Agencies
The shares of Chetana Education debuted on the NSE SME platform with a premium of 16.35% on Wednesday. The stock listed at Rs 98.9 against an issue price of Rs 85.
Ahead of the listing, the company's shares traded with a premium of Rs 40 in the unlisted market.
The IPO, which was completely a fresh equity sale of 54 lakh shares, was booked over 150 times, driven by robust NII response.
The net proceeds from the public offer will be used for debt repayment, working capital requirements, and other general corporate purposes.
Chetana Education is a content-based company, specializing in educational book publishing for the CBSE/State Board curriculum catering to the K-12 segment. Additionally, it provides access to educational software for learning videos (for teachers and Students) accessible through QR (Quick Response) codes, backed by a comprehensive sales and distribution network.
The company is currently focusing on serving the Maharashtra State Board and Central Board of Secondary Education (CBSE), covering the spectrum of education books from early pre-primary learning to K12 courses. During the Fiscal year 2023, it sold over 6 million books, covering students across different standards ranging from pre-primary, primary, secondary, and higher secondary levels.
Chetana has established a portfolio of over 700 titles as of 2023 with 15 distinct brands. Some of the names in its lineup include Master Key, Self-Study, Firefly, Bright Buddies, My Skill Book, Grade Me, QR series, etc.
Apart from publishing books, the company is also involved in developing a range of digital content for enhanced understanding of topics for students and aims to make the content more viable for a better learning experience.
Over the years, it has produced over 30,000 videos that can be accessed via QR codes, which could help transform traditional content into digital formats, facilitating the students for further self-studies post-school and tutorials without any additional cost. This has been achieved through a strategic partnership with Allern Enterprises, an edtech company.
For the year ended March 2024, the company clocked total revenues of Rs 93.67 crore and net profit of Rs 12.03 crore.
Ahead of the listing, the company's shares traded with a premium of Rs 40 in the unlisted market.
The IPO, which was completely a fresh equity sale of 54 lakh shares, was booked over 150 times, driven by robust NII response.
The net proceeds from the public offer will be used for debt repayment, working capital requirements, and other general corporate purposes.
Chetana Education is a content-based company, specializing in educational book publishing for the CBSE/State Board curriculum catering to the K-12 segment. Additionally, it provides access to educational software for learning videos (for teachers and Students) accessible through QR (Quick Response) codes, backed by a comprehensive sales and distribution network.
The company is currently focusing on serving the Maharashtra State Board and Central Board of Secondary Education (CBSE), covering the spectrum of education books from early pre-primary learning to K12 courses. During the Fiscal year 2023, it sold over 6 million books, covering students across different standards ranging from pre-primary, primary, secondary, and higher secondary levels.
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Chetana has established a portfolio of over 700 titles as of 2023 with 15 distinct brands. Some of the names in its lineup include Master Key, Self-Study, Firefly, Bright Buddies, My Skill Book, Grade Me, QR series, etc.
Apart from publishing books, the company is also involved in developing a range of digital content for enhanced understanding of topics for students and aims to make the content more viable for a better learning experience.
Over the years, it has produced over 30,000 videos that can be accessed via QR codes, which could help transform traditional content into digital formats, facilitating the students for further self-studies post-school and tutorials without any additional cost. This has been achieved through a strategic partnership with Allern Enterprises, an edtech company.
For the year ended March 2024, the company clocked total revenues of Rs 93.67 crore and net profit of Rs 12.03 crore.
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