 "IPO listing today: Chetana Education shares list at 16% premium on NSE SME")
Chetana Education IPO listing today: Shares of textbook publisher Chetana Education made a strong debut on the NSE SME on Wednesday. The company's shares listed at Rs 98.90 on the exchange, compared to the IPO issue price of Rs 85, yielding a return of 16.35 per cent per share for investors. Ahead of the listing, the grey market premium (GMP) of Chetana Education's IPO shares soared over 29 per cent, indicating favourable listing gains for investors.
The three-day subscription window for the Chetana Education IPO closed on Friday, July 26, 2024, with the issue being subscribed as much as 196.87 times by the last date. The basis of allotment for the Chetana Education IPO took place on Monday, July 29, 2024. The public issue received 468.42 times participation in the NII category, 135.11 times in the retail category, and 101.22 times in the QIB category by July 26, 2024.
Chetana Education IPO details
The public issue of Chetana Education comprised a fresh issue of 5,400,000 shares, aggregating up to Rs 45.90 crore. The Chetana Education IPO was available in the price band of Rs 80-85 per share, with a lot size of 2000 shares. Investors could bid for a minimum of 1600 shares and in multiples thereof, with the minimum amount required by a retail investor being Rs 136,000 to subscribe to the public issue.
Chetana Education fixed Rs 85 as the issue price for the IPO. Ahead of the opening for public subscription, Chetana Education raised Rs 13.06 crore from anchor investors on Tuesday, July 23, 2024.
Link Intime India Private Ltd is the registrar for the Chetana Education IPO, while Hem Securities Limited is the book-running lead manager of the public issue.
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Chetana Education financials
The market capitalisation of Chetana Education IPO is Rs 173.4 crore. The company's Profit After Tax for FY23-24 climbed to Rs 1,203.47 lakh, compared to Rs 685.47 lakh reported in FY22-23. Chetana Education's revenue jumped to Rs 9,367.06 lakh in FY24, compared to Rs 7,560.77 lakh reported in FY23.
About Chetana Education Limited
Chetana Education Limited is a leading textbook publisher specializing in publishing textbooks for the CBSE/State Board curriculum for the K-12 segment. The company is also involved in producing educational software and educational videos. Chetana Education has sold over 6 million books for students at various grade levels, from pre-primary to primary, secondary, and senior secondary.