Chetana Education IPO booked nearly 197 times on last day; check latest subscription numbers

Chetana Education IPO was subscribed over 197 times on the third and final day of bidding on Friday, July 26. The NSE SME IPO saw the highest bidding from the Non-Institutional Investors (NIIs).

The educational textbook and video publisher's initial public offering (IPO) received bids for more than 70.71 crore shares compared to 35.9 lakh shares on offer, leading to an overall subscription of 196.95 times.

The NSE SME issue was subscribed 469.13 times in the Non-Institutional Investors (NIIs) category with applications for 36.07 crore shares against 7.69 lakh shares set aside for the segment.

Retail individual investors applied for over 24.25 crore shares against 17.95 lakh shares set aside for the category. The retail portion was booked 135.12 times.

The Qualified Institutional Buyers (QIB) placed bids for 10.38 crore shares against 10.25 lakh shares set aside for them, leading to a subscription of 101.21 times in the segment.

Chetana Education IPO price band, minimum investment and other details

Chetana Education Limited IPO is a book-building issue worth ₹45.90 crore. The public offer comprises entirely a fresh issue of 54 lakh shares, including an anchor allocation of 15.36 lakh shares.

Chetana Education IPO price band has been fixed at ₹80 to ₹85 per share.

Retail investors can bid for a minimum lot size of 1,600 shares, which aggregates to an investment of ₹1,36,000. High-net-worth individuals (HNIs) can apply for a minimum of 2 lots consisting of 3,200 shares, which amounts to an investment of ₹2,72,000.

Chetana Education IPO allotment status and listing dates

Chetana Education IPO subscription window was open from July 24 to July 26. The IPO allotment status is likely to be finalised on Monday, July 29.

Shares of Chetana Education Limited are tentatively scheduled to be listed on the NSE SME platform Emerge on July 31.

Chetana Education Limited IPO registrar

The registrar for the IPO is Link Intime India Services Private Ltd.

The book-running lead manager for the issue is Hem Securities Limited. The market maker for the Chetana Education Limited IPO is Hem Finlease.

Chetana Education IPO objective

Chetana Education plans to repay certain borrowings availed by the company, either partially or fully, to meet the company's working capital needs and for other general corporate purposes.

About Chetana Education Limited

Chetana Education Limited, established in 2017, specialises in publishing textbooks and educational software for K-12 education. The company provides resources for the CBSE and Maharashtra State Board, covering all educational levels from pre-primary to senior secondary.