Overview

• The IPO comprises a ₹650 crore fresh issue and a ₹50 crore offer for sale by founders Rishi Das and Meghna Agarwal, with anchor bidding set for July 22.
• A price band of ₹225–237 per share has been fixed, valuing the company at nearly ₹5,000 crore at the upper end.
• Net proceeds will allocate ₹462.6 crore to capital expenditure on new centres, ₹93 crore to debt repayment and the balance to general corporate purposes.
• WestBridge Capital, an investor since 2018, will not divest in the offer for sale, leaving founders as sole selling shareholders.
• ICICI Securities and JM Financial are serving as book-running lead managers and the equity shares are proposed for listing on BSE and NSE.