Chetana Education IPO To Open On 24th July, Sets Price Band At Rs 80 to Rs 85 Per Share

The issue proceeds will be utilized in the repayment in full or in part, of certain of the outstanding borrowings, funding to meet working capital requirements and general corporate purposes. 

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On Monday, July 29, 2024, the shares for the Chetana Education IPO are anticipated to be allotted, and on Tuesday, July 30, 2024, the shares will be credited to the demat account of the allottees. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment. 

Retail investors need to contribute a minimum of Rs. 1.36lakh considering the minimum lot size for an application is 1600 shares. For HNIs, the minimum bidding size is two lots, or 3200 shares, for a total investment of Rs. 2.72 lakh at the upper price band.

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Chetana Education Limited reported standalone Revenue from operations of Rs. 93.50 crs., with PAT of Rs. 12.03 crs. In FY-24.

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. During FY-23, 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.

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