Chetana Education IPO

Chetana Education Ltd

₹1,28,000 /1600 sharesMinimum Investment

Chetana Education IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
24 Jul ‘24 - 26 Jul ‘24₹1,28,0001,600₹80 - ₹85
Issue SizeIPO Doc
45.90Cr
RHP PDF

About Chetana Education

Chetana Education is a publisher of educational books for the Central Board of Secondary Education (CBSE) and State Board curriculums. The company’s educational books cover the period starting from early pre-primary learning to comprehensive K-12 courses. Chetana Education also provides access, through QR codes, to learning videos for teachers and students. The company primarily serves the Maharashtra State Board and the CBSE. Its network includes schools, coaching classes, and booksellers. This network is supported by partnerships with various vendors responsible for printing, paper sourcing, binding, lamination, and packaging. Chetana Education's printing is managed through outsourced facilities, while distribution is handled via its own network. These operations are supported by a logistics network. As of January 2024, this network consisted of a centrally located warehouse in Bhiwandi, near Mumbai, Maharashtra, and two carrying and forwarding (C&F) facilities in Delhi and Karnataka. The company provides educational materials in several languages, including English, Hindi, Marathi, Kannada, and Tamil.;
Founded in
2017
Managing director
Mr. Anil Jayantilal Rambhia
Parent organisation
Chetana Education Ltd

Strengths & Financials of Chetana Education

Strengths
Risks
Chetana Education is expanding its footprint and revenue in the K-12 education sector across India, through a range of products and services, starting from early learning to higher education.
Chetana Education has established partnerships with over 400 contractual authors who contribute to the company's content creation efforts.
It has a vast sales and distribution network covering 18 states and Union Territories with over 500 distributors and dealers, supported by an in-house team of over 200 personnel.
Financially, Chetana Education has shown consistent growth, with revenue from operations climbing from Rs 32.56 crore in FY21 to Rs 43.09 crore in FY22 and to Rs 75.56 crore in FY23.
Chetana Education relies heavily on its partnerships with the Maharashtra Board and CBSE for a significant share of its revenue. Any disruptions in these relationships could negatively affect the company’s financial performance.
There are ongoing legal proceedings involving the company’s promoters and directors. Any negative outcome would pose a risk to the company’s financial health.
The company’s business is intricately tied to the academic cycle, making it cyclical in nature. Hence, its revenue and profitability may not be comparable from one period to another.
The company has unsecured loans amounting to Rs 13.32 crore as of January 21, 2024. Should these loans be recalled at any time without notice, it could hurt the company’s financial standing.
Having recently transitioned from an LLP to a corporate structure, Chetana Education has a limited corporate track record, which makes it difficult for investors to evaluate the company’s historical performance and future prospects.
Regarding the company’s borrowing facilities from banks, ICRA has assigned the company Long Term Rating – ICRA BB and Short Term Rating – ICRA A4+, which are valid until December 4, 2024. Any downward change in this rating could hurt the company’s borrowing strength.

Chetana Education Financials

*All values are in Rs. Cr
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Application Details of Chetana Education IPO

Apply asPrice bandApply upto
Regular80 - 85₹2 - 5 Lakh
High Networth Individual80 - 85₹2 - 5 Lakh
For Chetana Education IPO, eligible investors can apply as Regular.