Chetana Education
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 24 Jul 2024 – 26 Jul 2024
- Listing date
- 31 Jul 2024
- Face value
- ₹10 per share
- Issue price
- ₹85 per share
- Lot size
- 1,600 shares
- Issue type
- Book Building issue
- Total issue size
- ₹45.90 Cr
- Market cap at offer price
- ₹173 Cr
- Promoter holding
- 100.00% → 73.53% pre-issue → post-issue
- ISIN
- INE0U1T01012
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Hem Securities Ltd.
- Registered office
- 401, E-Wing, B & C Block, Trade Link, Kamala Mill, Delisle Road, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 15,36,000 | — | — |
| Market maker | 2,73,600 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹85
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,36,000 |
| S-HNI (min) | 2 | 3,200 | ₹2,72,000 |
| S-HNI (max) | 7 | 11,200 | ₹9,52,000 |
| B-HNI (min) | 8 | 12,800 | ₹10,88,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 8.02 | 5.90 |
| P/E (×) | 10.60 | 14.41 |
| Price to book (×) | 5.05 | — |
| Market cap | — | ₹173 Cr |
Key performance indicators
- Return on net worth
- 47.67%
- ROCE
- 26.87%
- PAT margin
- 12.87%
- NAV per share
- ₹16.83
- Price to book
- 5.05
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Chetana Education
Chetana Education Limited publishes educational books for the CBSE and State Board (primarily Maharashtra State Board) curriculum covering pre-primary to higher secondary (K-12) levels, and bundles QR-code-accessible learning videos with its books. Originally incorporated as the LLP 'Chetana Publications (India) LLP' on December 30, 2017, it was renamed 'Chetana Education LLP' (October 17, 2021) and converted into a public limited company, 'Chetana Education Limited', on January 21, 2024. In 2018 it purchased the publication undertakings of M/s Chetana Book Depot (a promoters' partnership firm founded in 1975) and Chetana Publication Private Limited. As of 2023 it had a portfolio of over 700 titles under 15 brands (e.g., Master Key, Firefly, Bright Buddies, Grade Me, Chetana QR series) and sold over 6 million books in Fiscal 2023. It operates an asset-light model: content is created with ~400 contractual authors while printing, binding and lamination are outsourced to third-party vendors to whom it supplies raw materials like paper; digital video content is produced with edtech partner Allern Enterprises Private Limited. It monetizes through sales of books to schools, students, coaching classes and booksellers via a network of 500+ distributors/dealers across 18 states and union territories, supported by a 200+ person in-house sales team and 408 employees; QR-based videos are sold only with the books, not separately. Revenue from operations was ₹9,350.55 lakhs in FY2024 (PAT ₹1,203.47 lakhs), with exports a negligible ~0.08% of turnover.
Company Analysis
from RHPChetana Education Limited is a content-based educational book publishing company serving India's K-12 segment (Maharashtra State Board and CBSE curricula) with print titles and QR-code-enabled digital learning videos.
Chetana Education Limited publishes educational books for the CBSE and State Board (primarily Maharashtra State Board) curriculum covering pre-primary to higher secondary (K-12) levels, and bundles QR-code-accessible learning videos with its books. Originally incorporated as the LLP 'Chetana Publications (India) LLP' on December 30, 2017, it was renamed 'Chetana Education LLP' (October 17, 2021) and converted into a public limited company, 'Chetana Education Limited', on January 21, 2024. In 2018 it purchased the publication undertakings of M/s Chetana Book Depot (a promoters' partnership firm founded in 1975) and Chetana Publication Private Limited. As of 2023 it had a portfolio of over 700 titles under 15 brands (e.g., Master Key, Firefly, Bright Buddies, Grade Me, Chetana QR series) and sold over 6 million books in Fiscal 2023. It operates an asset-light model: content is created with ~400 contractual authors while printing, binding and lamination are outsourced to third-party vendors to whom it supplies raw materials like paper; digital video content is produced with edtech partner Allern Enterprises Private Limited. It monetizes through sales of books to schools, students, coaching classes and booksellers via a network of 500+ distributors/dealers across 18 states and union territories, supported by a 200+ person in-house sales team and 408 employees; QR-based videos are sold only with the books, not separately. Revenue from operations was ₹9,350.55 lakhs in FY2024 (PAT ₹1,203.47 lakhs), with exports a negligible ~0.08% of turnover.
Objects of the Issue
- Repayment of certain borrowings availed by the Company, in part or full ₹1217.00 lakhs p.79
- To meet Working Capital requirements ₹2000.00 lakhs p.81
- General Corporate Purposes p.83
Issue Structure
- Total Issue
- Upto 54,00,000 Equity Shares aggregating up to Rs. [●] Lakhs
- Fresh Issue
- Entire issue is a fresh issue of upto 54,00,000 Equity Shares of face value ₹10 each
- Offer for Sale
- Nil
- Face Value
- ₹10
Business Model
Earns revenue primarily from the sale of printed educational textbooks and learning materials (700+ titles under 15 brands) to schools, students, coaching classes and booksellers through 500+ distributors and dealers across 18 states/UTs, backed by an in-house sales team of 200+. It follows an asset-light model—outsourcing printing/binding to vendors while procuring raw materials (paper, ink, plates) itself—and provides QR-code-enabled educational videos bundled with its books (codes sold only with books, not separately) through a strategic partnership with Allern Enterprises Private Limited. Exports contribute ~0.08–0.17% of turnover.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Anil Jayantilal Rambhia | Promoter | 46.00% | 33.82% |
| Rakesh Jayantilal Rambhia | Promoter | 46.00% | 33.82% |
| Shilpa Anil Rambhia | Promoter | 1.00% | 0.74% |
| Diva Anil Rambhia | Promoter Group | 1.00% | 0.74% |
| Aashna Anil Rambhia | Promoter Group | 1.00% | 0.74% |
| Jania Rakesh Rambhia | Promoter Group | 3.00% | 2.21% |
| Chetana Publications Private Limited | Promoter Group | 2.00% | 1.47% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.