The company has its presence through 33 centres mainly in North, East and Central India.The main objects of the issue is to meet expenses towards general corporate purposes and to construct and develop an integrated campus facilities.
Details of the issue:
Issue Size: Rs. 115.00 Crore.
Face Value: Rs. 10 Per Equity Share.
Price Band: Rs. 295 - Rs. 310 Per Equity Share.
Market Lot: 20 Shares.
Issue Open: Sep 16, 2010 - Sep 21, 2010.
To invest or not?
The net profit for FY10 was Rs. 18 crore with an EPS of Rs. 13.2 on an equity of Rs. 14.42 crore. The company is expects its business to grow at the rate of 30% with margins of about 33%. There is always a market fancy for education stocks and also, the company has allotted 6.56 lakh shares to anchor investors at Rs 310 a share, which is at the higher price band.
All these things make this IPO interesting which would give listing gains as well as for holding medium term to long term.