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Chetana Education IPO
Price Band
₹80.0–85.0
Issue Size
₹45.9 Cr
Lot Size
1,600 shares
Min Investment
₹136,000
GMP
+₹25.0 (29.41%)
Issue Price
₹85.0
Subject to Sauda
₹30400
Paid only if allotted
Chetana Education IPO AI Summary
- Chetana Education IPO is listed on NSE SME in the Printing & Publication sector.
- Price band: ₹80.0–₹85.0 per share, lot size 1,600 shares (min. investment ₹136,000).
- Subscription window: 24 Jul–26 Jul 2024, listing on 31 Jul 2024.
- Current GMP is +₹25.0 (29.41%), an estimated listing price of ₹110 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Chetana Education IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 26 Jul 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Chetana Education IPO Grey Market Premium (GMP) Today
GMP
+₹25.0
GMP %
+29.41%
Est. Listing
₹110.0
Updated: 25 Jul 2026 14:05
About the Company
Established in 2017, Chetana Education Limited specializes in publishing textbooks for CBSE/State Board curriculum for the K-12 segment and educational software for educational videos for teachers and students accessible through QR (Quick Response) codes. 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. The company has sold over 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. The company has a portfolio of 700 titles (as of 2023) with 15 different brands including Master Key, Self-Study, Firefly, Bright Buddies, My Skill Book, Grade Me, QR Series, etc. The company has also developed a range of digital content to enhance students' understanding of specific subjects and harness the content for a better learning experience. The company has entered into a strategic partnership with Allern Enterprises Private Limited, an ed-tech company, and has produced over 30,000 videos that can be accessed through QR codes. As of January 2024, the company has a distribution and sales network consisting of more than 500 distributors and dealers and a dedicated sales team working in branches and marketing offices across India. As of March 31, 2024, the company employed 408 people.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 94.75 | 83.15 | 76.06 | 68.25 |
| Total Income | 93.67 | 75.61 | 43.12 | 32.71 |
| Profit After Tax | 12.03 | 6.85 | 1.68 | 2.80 |
| NET Worth | 25.25 | 22.82 | 19.47 | 20.91 |
| Reserves and Surplus | 10.25 | |||
| Total Borrowing | 51.29 | 43.00 | 38.76 | 34.88 |
Key Ratios
EPS
₹8.02
NAV
₹16.83
ROE
50.08%
ROCE
26.87%
RoNW
47.67%
P/B Value
5.05
P/E Ratio
10.59
Market Cap
₹173.40 Cr
PAT Margin
12.87%
Peer Comparison
| Company | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|
| Navneet Education Limited | 19.46% | 14.22 | 11.12 | 11.12 |
| S Chand And Company Ltd | 5.42% | 16.5 | 14.53 | 14.53 |
| Chetana Education Limited This IPO | 47.67% | 10.59 | 8.02 | 8.02 |
Promoters
Anil Jayantilal Rambhia, Rakesh Jayantilal Rambhia and Shilpa Anil Rambhia
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment of certain borrowing availed by our Company, in part or full 12.17 2 To meet Working Capital requirements 20.00 3 General Corporate Purpose 8.74
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹43.12 Cr in the year ending 31 Mar 2022, rising to ₹75.61 Cr by 31 Mar 2023, and further increasing to ₹93.67 Cr by 31 Mar 2024. This indicates a strong upward trend in revenue over the periods.
Profit Trend
Profit After Tax was ₹1.68 Cr in the year ending 31 Mar 2022, increasing to ₹6.85 Cr by 31 Mar 2023, and further rising to ₹12.03 Cr by 31 Mar 2024. This consistent growth showcases the company's improving profitability.
Valuation
Chetana Education Limited has an implied P/E of 10.59 at the issue price, compared to peers trading at P/E ratios of 14.22 for Navneet Education Limited and 16.5 for S Chand And Company Ltd.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading before the shares are listed. A positive GMP suggests that the market expects the stock to list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors such as market conditions and company fundamentals.
Who May Want to Wait
Investors who prefer stable, established companies with predictable earnings may want to avoid IPOs like this, which can be more volatile and carry higher risks.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make on the first day of trading if the stock opens at a higher price than the issue price. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock.
This evaluation is generated from Chetana Education's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Chetana Education IPO GMP today?
Chetana Education IPO GMP today is +₹25.0 (29.41%), indicating an estimated listing price of ₹110. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Chetana Education IPO?
The price band of Chetana Education IPO is ₹80.0–₹85.0 per share.
When does Chetana Education IPO open and close?
Chetana Education IPO opens on 24 July 2024 and closes on 26 July 2024.
When does Chetana Education IPO list on the stock exchange?
Chetana Education IPO listed on 31 July 2024 at ₹110.0.
What is the lot size for Chetana Education IPO?
The lot size for Chetana Education IPO is 1600 shares, requiring a minimum investment of ₹136,000.
What is the price band for the Chetana Education IPO?
The price band for the Chetana Education IPO is ₹80.0 to ₹85.0.
What is the minimum investment required?
The minimum investment required is ₹136,000, which corresponds to a lot size of 1600 shares.
When does the IPO open and close?
The IPO opens on July 24, 2024, and closes on July 26, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
When is the listing date for the IPO?
The listing date for the Chetana Education IPO is July 31, 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
24 Jul 2024
Close
26 Jul 2024
Allotment
29 Jul 2024
Listing
31 Jul 2024
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