📅 Timeline
- Opens: 19 Nov 2025
- Closes: 21 Nov 2025
- Tentative Listing: 26 Nov 2025
💰 Issue Details
- Price Band: ₹114 – ₹120 per share
- Lot Size: 125 shares (so minimum investment ~₹14,250 at upper band)
- Issue Size: ~ ₹500 crore
- Fresh Issue: ~₹180 crore
- Offer for Sale (OFS): ~₹320 crore
🏢 Business Overview
- A global vertical SaaS company focused on digital learning & assessment solutions (ed-tech + assessment platforms)
- Strong export footprint across ~19 countries and multiple clients
🎯 Use of Proceeds (Fresh Issue Portion)
- Purchase of land & construction of new facility, Mysore 🏗️
- Upgrade of existing facility’s electrical systems ⚡
- Upgradation of IT infrastructure (software, hardware, networks) 🖥️
- General corporate purposes
🌟 Strengths & Highlights
✅ Niche position in the digital learning/assessment market with global clients
✅ Recurring SaaS/contract revenues potential
✅ Strong recent profit growth (e.g., FY25 PAT jumped significantly)
⚠️ Risk Factors
❗ Large OFS part means company gets less fresh capital
❗ Client concentration — if major client(s) cut business, growth may impact
❗ Valuation premium in line with SaaS growth, so expectations are high
📈 Grey Market Premium (GMP) & Listing Outlook
- GMP is reported at around ₹15-₹20 on the price band (implies ~12-16% potential listing gain)
- If listing happens at upper end (~₹120 + ~₹18 = ~₹138) then short-term upside possible
