Wagons Learning IPO Day 1: Check Price Band, Latest GMP, Subscription Details And More

The initial public offering of Wagons Learning Ltd. opened for subscription on Friday, May 2. The company specialises in corporate training, digital learning and skill development solutions. Prospective investors in this BSE SME IPO can evaluate important details before deciding to invest.

The Wagons Learning IPO is a book-building issue aimed at raising Rs 38.38 crore. The public offer is a combination of a fresh issue of 30.8 lakh shares, worth Rs 25.26 crore, and an offer-for-sale (OFS) component of 16 lakh shares, amounting to Rs 13.12 crore.

The share allocation for the IPO is distributed across different investor categories. Qualified Institutional Buyers (QIBs) are entitled to a maximum of 11.99% of the net issue, while retail investors are ensured at least 50% of the net issue. For Non-Institutional Investors (NIIs), including High Net-Worth Individuals (HNIs), the company has set aside at least 38.01% of the net issue.

The price band for the Wagons Learning IPO has been set between Rs 78 and Rs 82 per share. Investors can place bids for a minimum of 1,600 shares, with further bids in multiples of 1,600.

For retail investors, both the minimum and maximum investment is for one lot, equating to 1,600 shares, which amounts to Rs 1,31,200. For High Net-Worth Individuals (HNIs), the minimum bid amount is two lots, or 3,200 shares, requiring an investment of Rs 2,62,400.

Khandwala Securities Ltd. is the book-running lead manager for the Wagons Learning IPO, while Cameo Corporate Services Ltd. is serving as the registrar for the issue. Rikhav Securities Ltd. is the market maker for this SME IPO.

The subscription window for the Wagons Learning IPO will remain open till May 6, 2025. The tentative allotment date is set for May 7, 2025, with refunds expected to be initiated by May 8, 2025. Shares will be credited to the Demat accounts of successful applicants on the same day, May 8. The tentative IPO listing date has been fixed as May 9. Shares of Wagon Learning Ltd. will be listed on the BSE SME platform.

Wagons Learning IPO has been subscribed 0.01 times as of 11:20 a.m. on Friday:

• Qualified Institutions: Nil

• Non-Institutional Buyers: Nil

• Retail Investors: 0.02 times

*The subscription status will be updated at regular intervals

As on May 2, according to Investorgain, the Grey Market Premium (GMP) for the Wagons Learning SME IPO shows a trend towards a discounted listing. The GMP ranges from Rs -2 to zero. Given the upper end of the price band of Rs 82, the estimated listing price based on the current GMP stands at Rs 80.

Note: GMP is not an official source of data and is based on speculation.

Wagons Learning Ltd. was founded in 2013. The company operates on a B2B model, and offers a range of services, such as training and certifications, digital learning solutions (LMS/LXP), skill development, trainer outsourcing and payroll management. Its main service verticals include corporate learning and development, digital learning solutions (such as LMS, LXP, content development and digital libraries), skill development and CSR implementation and trainer outsourcing and payroll management.

The proceeds from the Wagons Learning IPO will be used by the company for a few key objectives. The company plans to use the net funds to meet its working capital requirements, prepay or repay a portion of its outstanding borrowings and address general corporate purposes.

For the nine-month period ending Dec. 31, 2024, the company reported a revenue of Rs 33.23 crore and a profit after tax (PAT) of Rs 5.54 crore.

For the year ending March 31, 2024, revenue stood at Rs 33.51 crore, with a PAT of Rs 5.61 crore. In the year-ago period ending on March 31, 2023, the company generated Rs 16.17 crore in revenue and reported a PAT of ₹71 lakh.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.