IPO Corner: Chetana Education Ltd. & Manglam Infra and Engineering Ltd.

IPO opens on July 24, 2024, closes on July 26, 2024

Chetana Education Ltd

Chetana Education IPO is a book built issue of Rs 45.90 crores. The issue is entirely a fresh issue of 54 lakh shares. The allotment for the Chetana Education IPO is expected to be finalized on Monday, July 29, 2024. Chetana Education IPO will list on NSE SME with tentative listing date fixed as Wednesday, July 31, 2024. Chetana Education IPO price band is set at Rs 80 to Rs 85 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is Rs 136,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to Rs 272,000.

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.

Manglam Infra and Engineering Ltd.

Manglam Infra And Engineering IPO is a book built issue of Rs 27.62 crores. The issue is entirely a fresh issue of 49.32 lakh shares. IPO opens for subscription on July 24, 2024 and closes on July 26, 2024. The allotment for the Manglam Infra And Engineering IPO is expected to be finalized on Monday, July 29, 2024. Manglam Infra And Engineering IPO will list on NSE SME with tentative listing date fixed as Wednesday, July 31, 2024. Manglam Infra And Engineering IPO price band is set at Rs 53 to Rs 56 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is Rs 112,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to Rs 224,000.

Incorporated in 2010, Manglam Infra and Engineering Limited is a company that helps manage infrastructure projects. They provide detailed project reports, supervise and control quality, and handle the operation and maintenance of things like highways, bridges, tunnels, and urban buildings.

The company offers design, engineering, procurement, construction, and integrated project management services. The company’s services include DPR and feasibility studies, Operations & Maintenance Works, Project Management Consultancy, Independent Consultancy, Project Planning, Designing, Estimation, Supervision and Quality Control, Authority Engineer Supervision, Independent Engineer Services, Traffic and Transportation Engineering, Financial Analysis, Technical audits, Structural Audit, Inspection of bridges & Roads.

The company has provided services in states like Madhya Pradesh, Jammu & Kashmir, Bihar, Arunachal Pradesh, Jharkhand, Himachal Pradesh, Uttar Pradesh, Manipur, Nagaland, Maharashtra, Assam, Rajasthan, Uttarakhand, and Haryana. In total, they have completed 127 projects. Out of these, 116 projects were done independently, and 11 projects were completed through joint ventures and MoUs with the central government.