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Western Overseas IPO
Western Overseas Study Abroad Ltd
₹2,24,000 /2000 sharesMinimum Investment
Western Overseas IPO Details
| Bidding dates | Minimum investment | Lot size | Price range |
|---|---|---|---|
| 4 Dec ‘25 - 8 Dec ‘25 | ₹2,24,000 | 2,000 | ₹56 - ₹56 |
| Issue size | IPO doc | Tentative allotment date | Tentative listing date |
|---|---|---|---|
| 10.07 Cr | RHP PDF | 09 Dec ‘25 | 11 Dec ‘25 |
| Face value |
|---|
| 10 |
About Western Overseas
Founded in
2013
MD/CEO
Mr Pradeep Balyan
Parent organisation
Western Overseas Study Abroad Ltd
Strengths & Risks of Western Overseas
Strengths
Risks
Western Overseas claims to provide individualised advice and guidance tailored to each client’s circumstances and goals. The company emphasises customised application strategies designed to address distinct needs, which it considers a key factor in generating client referrals.
The company claims to have a well-equipped infrastructure that includes advanced classrooms, online lectures, and virtual meetings for resolving client queries. It also leverages technology for document submission, verification, and communication, and offers online platforms where clients can track the progress of their cases.
Western Overseas claims to offer a comprehensive range of services, from language training and consultation to application processing and post-arrival support, within a single framework. This centralised approach is intended to serve varied client requirements and attract a wider clientele compared to single-service providers.
The company claims to maintain clarity in its client agreements by detailing terms such as the scope of services, fee and payment structures, refund policies, responsibilities, communication protocols, and data protection. It also outlines provisions for termination, legal compliance, and dispute resolution to ensure transparency throughout the engagement process.
The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 10.15 crore in FY23 to Rs 20.30 crore in FY24 and Rs 22.72 crore in FY25. PAT increased from Rs 0.45 crore in FY23 to Rs 1.19 crore in FY24 and Rs 2.21 crore in FY25.
Western Overseas derives a significant portion of its revenue from a limited number of global institutions. The top five institutions accounted for 18.82 percent of the company’s revenue for the period ended June 30, 2025; 19.84 percent in FY25; 24.09 percent in FY24; and 16.58 percent in FY23. Any loss of association or inability to maintain relationships with these institutions can adversely impact the company’s business, financial condition, and cash flows.
The company reported negative cash flow from operating activities amounting to Rs 0.13 crore for the period ended June 30, 2025, Rs 0.28 crore in FY25, and Rs 2.07 crore in FY24. Additionally, negative cash flow from investing activities amounted to Rs 0.23 crore for the period ended June 30, 2025, Rs 0.18 crore in FY25, Rs 0.81 crore in FY24, and Rs 0.83 crore in FY23. Net cash outflow amounted to Rs 0.20 crore in FY25 and Rs 0.25 crore in FY24. Continued negative cash flow in future could adversely affect the company’s financial condition, liquidity position, and overall growth prospects.
Western Overseas derives a major share of its revenue from operations with global institutions located outside India. They accounted for Rs 2.32 crore (46.89 percent), Rs 11.81 crore (51.98 percent), Rs 12.76 crore (62.83 percent), and Rs 6.86 crore (67.57 percent) of the company’s revenue for the period ended June 30, 2025, FY25, FY24, and FY23, respectively. Canada alone accounted for Rs 0.98 crore (19.77 percent) of the company’s revenue for the period ended June 30, 2025; Rs 5.46 crore (24.03 percent) in FY25; Rs 6.64 crore (32.71 percent) in FY24; and Rs 4.13 crore (40.71 percent) in FY23. Any adverse economic, political, or regulatory developments in these regions, or the company’s inability to expand its operations, could negatively impact its business operations, revenue, and financial performance.
Western Overseas develops proprietary study materials for courses such as the IELTS, PTE, Duolingo English Test, and TOEFL. The company claims to have invested significant time and resources in creating these materials, which are provided exclusively to registered students. Any unauthorised copying or use of these materials by competitors could lead to unfair competition, reduced pricing power, and an adverse impact on the company’s business operations, financial results, and brand reputation.
The company, its directors, and KMP/SMP are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
As of June 30, 2025, the company had outstanding financial indebtedness of Rs 4.62 crore. Failure to service or repay these loans can harm the company’s operations and financial position.
Western Overseas Financials
*All values are in Rs. Cr
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Application Details of Western Overseas IPO
| Apply as | Price band | Apply Range | Lot size |
|---|---|---|---|
| Individual investor | ₹56 - 56 | ₹2 - 5 Lakh | 2000 |
For Western Overseas IPO, eligible investors can apply as Individual investor.