Chetana Education IPO Subscription Status

Chetana Education IPO Subscription - Day-3 Subscription at 196.87 Times

Chetana Education IPO will close on 26 July. Shares of Chetana Education are likely to be listed on July 31. Shares of Chetana Education will make trading debut on NSE SME platform
 

On 26 July 2024, Chetana Education IPO received bids for 70,68,56,000 shares much more than the 35,90,400 shares available. This means that the Chetana Education IPO was oversubscribed by 196.87 times by the end of the 3rd day.

Here are the subscription details for Chetana Education IPO as of Day 3:

Chetana Education IPO subscription was mainly driven by HNI / NII investors, followed by retail investors then Qualified Institutional Buyers (QIBs) showing interest later. QIBs and HNIs/NIIs tend to increase their subscriptions in the final hours of the last day. Overall subscription figures do not include the anchor portion or the market-making segment of the IPO. 

QIBs are large institutional investors like mutual funds and insurance companies, while HNIs/NIIs are wealthy individual investors and smaller institutions.
 

Subscription Status of Chetana Education IPO for Days 1, 2, and 3:

On day 1, Chetana Education IPO was subscribed 2.88 times. By day 2, the subscription status had risen to 13.03 times and on day 3, it reached 196.87 times.

Here are the subscription details for Chetana Education IPO by category as of Day 3:

Chetana Education IPO was highly successful across all investor categories. Market Maker and Anchor Investors both fully subscribed at 1 time. Qualified Institutional Buyers (QIBs) subscribed at 101.22 times, High Net-Worth Individuals (HNIs) and Non-Institutional Investors (NIIs) subscribed at 468.42 times and Retail Investors subscribed at 135.11 times. Overall, the IPO was subscribed 196.87 times.

On Day 1, Chetana Education IPO was subscribed 2.88 times. By Day 2, the subscription status had risen to 13.03 times, and on Day 3, it reached 196.87 times.

Chetana Education IPO was highly successful across all investor categories. Market Maker and Anchor Investors both fully subscribed at 1 time. Qualified Institutional Buyers (QIBs) subscribed at 101.22 times, High Net-Worth Individuals (HNIs) and Non-Institutional Investors (NIIs) subscribed at 468.42 times, and Retail Investors subscribed at 135.11 times. Overall, the IPO was subscribed 196.87 times.

Chetana Education IPO will close on 26 July. Shares of Chetana Education are likely to be listed on July 31, 2024. The shares will make their trading debut on the NSE SME platform.

QIBs are large institutional investors like mutual funds and insurance companies, while HNIs/NIIs are wealthy individual investors and smaller institutions.

Data Source: NSE

Chetana Education IPO - Day-2 Subscription at 3.65 Times

As of 25 July 2024, Chetana Education IPO received bids for 4,66,43,200 shares exceeding 35,90,400 shares available. It means Chetana Education IPO was oversubscribed by 12.99 times by the end of the 2nd day. The subscription details for Chetana Education IPO at the starting of Day 2 are as follows:

The IPO subscriptions were mainly driven by retail investors, followed by High Net Worth Individuals (HNIs) and Non Institutional Investors (NIIs) and then QIBs. Typically, QIB and HNI/NII subscriptions increase on the last day, especially in the afternoon. These numbers will change by the end of the third day, with the final status clear on the last day. Overall subscription ratio does not include the anchor portion or the market-making segment of the IPO.

Data Source: BSE

Chetana Education IPO started on July 24, 2024 and will end on July 26, 2024. The IPO allotment is expected to be finalized by Monday, July 29, 2024 with the company listing on NSE SME platform on Wednesday, July 31, 2024.

The IPO price range is set at ₹80 to ₹85 per share with retail investors needing to apply for at least 1,600 shares which requires an investment of ₹136,000. High Net Worth Individuals must apply for a minimum of 2 lots (3,200 shares) totaling ₹272,000.

Out of the 5,400,000 shares offered, 18.99% is reserved for Qualified Institutional Buyers (QIB), 14.25% for Non Institutional Investors (NII), 33.24% for retail investors, and 28.44% for anchor investors.

Hem Securities Limited is the lead manager for the IPO and Link Intime India is the registrar. Hem Finlease will be the market maker.

Chetana Education established in 2017, publishes textbooks for CBSE and State Board curricula for K-12 education. The company also creates educational software with QR code enabled videos for teachers and students, focusing primarily on Maharashtra State Board and CBSE. They offer textbooks from pre primary to K-12 levels and work with over 400 contract authors to develop content. Their portfolio includes 700 titles under brands like Master Key, Self Study and Firefly.

In FY24, Chetana Education's revenue grew by nearly 24% to ₹93.66 crore compared to ₹75.6 crore in FY23. The company's PAT surged by 76% reaching ₹12.03 crore in FY24, up from ₹6.85 crore in FY23.