Overview
- Qualified institutional buyers bid 2.70 times their quota, retail finished at 1.06 times, non-institutional investors at 0.48 times, and the employee pool was nearly 3.5 times subscribed.
- The Rs 3,480 crore offer comprises a Rs 3,100 crore fresh issue and a Rs 380 crore offer for sale, priced in a Rs 103–109 band that implies a valuation above Rs 31,500 crore at the top end.
- Anchor investors committed Rs 1,563 crore a day before the opening via 14.34 crore shares at Rs 109 each, with domestic mutual funds taking more than half the allocation.
- Proceeds are earmarked for growth, including Rs 710 crore for marketing, Rs 548 crore for lease payments for offline and hybrid centers, Rs 460 crore for new center fit-outs, and Rs 471 crore for investment in subsidiary Xylem Learning.
- Founded in 2016 by Alakh Pandey, the edtech company has expanded from a YouTube channel into a multi-channel platform, reporting FY25 revenue of Rs 2,887 crore and a narrowed loss of Rs 243 crore.