Overview
- Of the total offer, Rs 3,100 crore is a fresh issue and Rs 720 crore is an offer for sale by promoters Alakh Pandey and Prateek Boob at up to Rs 360 crore each.
- Proceeds are earmarked for offline and hybrid centre fit-outs (Rs 460.5 crore), lease payments (Rs 548.3 crore), marketing (Rs 710 crore) and server and cloud infrastructure (Rs 200.1 crore), with smaller sums for Xylem Learning and Utkarsh Classes.
- FY25 disclosures show operating revenue around Rs 2,886.6–2,887 crore, a narrowed net loss of roughly Rs 243 crore and a swing to positive EBITDA reported in the filing.
- The DRHP flags operational risks tied to physical centres, including student-safety incidents such as a staffer pushing a student and an FIR after a ceiling fan fell at a Delhi centre.
- Kotak Mahindra Capital, JP Morgan India, Goldman Sachs (India) Securities and Axis Capital are book-running lead managers, with price band and IPO dates yet to be announced after SEBI’s July go-ahead to the earlier confidential filing.