Chetana Education, a company that creates educational books for schools, had a very good start when its shares began trading on the stock market today. The shares started trading at Rs 98.90 each, which is higher than the price people paid for them during the Initial Public Offering (IPO) of Rs 85. This means that investors who bought the shares in the IPO made a profit of 16.35%.
The company offered 54 lakh shares to the public, and there was a lot of interest from investors. The shares were oversubscribed many times, which means many more people wanted to buy the shares than were available. This high demand shows that investors have confidence in Chetana Education and its future plans.
Chetana Education is a relatively new company, having started in 2017. It specializes in creating books for students in schools, following the CBSE and state board syllabus. In addition to books, the company also makes educational videos and computer programs to help both teachers and students with learning.
The strong start on the stock market is a positive sign for Chetana Education. It indicates that investors believe in the company’s potential for growth and success. However, it is important to remember that the stock market can be unpredictable. The share price can go up or down, and investors should be aware of this risk.
For those who bought shares in Chetana Education, it is important to do your own research and make informed decisions about buying or selling shares. Staying updated on the company’s performance and the overall market conditions will help in making better investment choices.
When a share’s price is higher than the price it was offered at in the IPO, it is called a premium. In this case, Chetana Education’s shares listed at a premium of 16.35%, which means investors saw immediate gains.
Chetana Education’s IPO included a fresh issue of 5,400,000 shares, raising up to Rs 45.90 crore. The IPO was priced between Rs 80-85 per share, and investors could bid for a minimum of 1600 shares. The minimum amount required for a retail investor to subscribe was Rs 136,000.
The IPO received a lot of interest, with subscriptions reaching as much as 196.87 times by the closing date. Different categories of investors showed strong participation, including non-institutional investors, retail investors, and qualified institutional buyers.
Before the IPO opened to the public, Chetana Education raised Rs 13.06 crore from anchor investors. This pre-IPO funding helped build confidence and interest in the public offering.
Chetana Education’s successful debut on the stock market is a promising start for the company. With strong investor interest and a solid plan for using the IPO funds, the company is well-positioned for future growth. Investors should keep an eye on the company’s progress and market trends to make informed decisions.
