Winny Immigration & Education Services Ltd IPO Review: Key Details, Timeline, and Market Sentiment
Overview
Winny Immigration & Education Services Ltd, established in 2008, specializes in visa consultancy services. The company offers assistance for various types of visas, including student, travel, work, business, and migration visas. With the increasing globalization and demand for skilled professionals, Winny Immigration aims to streamline the visa application process for its clients.
Company Information
- Incorporation Date: June 9, 2008
- Corporate Identification Number (CIN): U93000GJ2008PLC054150
- Registered Office: 103-104, ATP Arcade, Above Mr. Bean's Coffee Shop, Nr. National Handloom House, Law Garden, Ahmedabad, Gujarat, India, 380006
- Promoter: Jignesh Patel
- IPO Docs: Winny Immigration DRHP
IPO Details
- Issue Open Date: June 20, 2024
- Issue Close Date: June 24, 2024
- Listing Date: June 27, 2024
- Issue Price: ₹140 per share
- Face Value: ₹10 per share
- Fresh Issue Size: Upto 6,52,000 Equity Shares
- Market Maker Reservation Portion: Details to be provided
Tentative Timeline
| Event |
Date |
| IPO Open Date |
June 20, 2024 |
| IPO Close Date |
June 24, 2024 |
| Basis of Allotment |
June 25, 2024 |
| Initiation of Refunds |
June 26, 2024 |
| Credit of Shares to Demat |
June 26, 2024 |
| Listing Date |
June 27, 2024 |
| Cut-off time for UPI mandate confirmation |
5 PM, June 24, 2024 |
Winny Immigration & Education Services Ltd Financial Information
| Particulars |
31st March, 2024 |
31st March, 2023 |
31st March, 2022 |
| Assets (` in Lakhs) |
542.84 |
541.93 |
276.26 |
| Revenue from Operation |
1102.12 |
1197.91 |
1004.07 |
| Profit after Tax |
39.27 |
144.71 |
127.63 |
| Net worth |
230.72 |
191.46 |
46.75 |
| Reserves and Surplus |
78.92 |
188.16 |
43.45 |
| Total borrowings |
206.84 |
232.02 |
127.91 |
Objects of the Issue
The net proceeds from the IPO will be used for the following purposes:
- Opening of new offices in India: ₹96.96 Lakhs
- Software Development: ₹287.81 Lakhs
- Repayment of Debt: ₹159.00 Lakhs
- Branding and Advertisement: ₹100.00 Lakhs
- General Corporate Purposes: [Amount to be determined]
Promoter and Promoter Group Shareholding
| Name |
Pre-issue Shares |
Pre-issue % |
Post-issue Shares |
| Jignesh Patel |
12,65,000 |
83.33% |
12,65,000 |
| Binal Patel |
4,600 |
0.30% |
4,600 |
Grey Market Premium (GMP) and Subscription Details
| Date |
IPO GMP |
Kostak |
Subject to |
| Today |
₹70 |
₹- |
₹50,000 |
| 20th June |
₹50 |
- |
₹35,000 |
| 19th June |
₹45 |
- |
₹30,000 |
| 18 June |
₹45 |
₹- |
₹30,000 |
| 17 June |
₹45 |
₹- |
₹30,000 |
Risk Factors
- Market Risks: No assurance of active trading post-listing.
- General Risks: Investments in equity involve risks.
- Regulatory Risks: Changes in laws and regulations can impact the business.
Conclusion
The IPO of Winny Immigration & Education Services Ltd provides an opportunity to invest in a company that is well-positioned in the growing visa consultancy market. However, potential investors should carefully consider the risk factors and their own investment strategies before making a decision.
For more detailed information, refer to the company's Draft Prospectus and consult financial advisors before making any investment decisions.
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