Overview
- The offer runs November 11–13 in a Rs 103–109 price band, comprising a Rs 3,100 crore fresh issue and a Rs 380 crore offer-for-sale, with allotment due November 14 and listing slated for November 18 on BSE and NSE.
- Anchor investors took about 14.33–14.34 crore shares at Rs 109 to raise roughly Rs 1,562.8–1,563 crore, with bids near Rs 20,000 crore and about 55% of the allocation going to domestic mutual funds alongside marquee global asset managers.
- Grey-market indications point to a premium of about Rs 3 over the upper band, implying roughly 2.7% listing gains, though such quotes are unofficial and volatile.
- Proceeds are earmarked for marketing (about Rs 710 crore), lease payments for existing offline and hybrid centers (about Rs 548 crore), capex for new centers (about Rs 460 crore) and investment in subsidiary Xylem Learning (about Rs 471 crore).
- The loss-making edtech reported FY25 revenue of about Rs 3,039 crore and a net loss of about Rs 243 crore, promoters’ stake is set to fall from roughly 80.6% to about 72% post-issue, and brokerages have issued mixed recommendations.