May 6, 2025
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What is the latest news of Wagons Learning IPO?
Wagons Learning has withdrawn its initial public offering, which was scheduled to close on May 6, with the company and the merchant banker Khandwala Securities attributing the development to “prevailing market conditions”.
“Basis the communications received from the merchant banker (Khandwala Securities) and the company (Wagons Learning Ltd) vide their letters dated May 5, 2025, it is hereby notified that the company in consultation with the merchant banker has decided to withdraw the issue due to prevailing market conditions,” said a statement issued by BSE.
Subscription status of Wagons Learning IPO
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Wagons Learning IPO Price Rs. 82 Lot 1600 shares, Rs. 38.38 Crore |
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| QIB | NII x | RII x | Total x | Applications |
| 0.00 | 0.01 | 0.16 | 0.08 | 292 |
| Note: The flow of applications has been very weak on the second day of subscriptions. Only 292 applications have been received till 3.00 pm. Negative premium is also the reason for such trend. |
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Wagons Learning Allotment Link:
What is the business of Wagons Learning?
Wagons Learning Limited: Empowering Growth Through Learning
Wagons Learning Limited is a leading provider of corporate training, digital learning, and skill development solutions, operating on a robust B2B model. The company delivers a comprehensive suite of services including:
- Corporate Training & Certifications
- Digital Learning Platforms (LMS/LXP)
- Custom Content Development & Digital Libraries
- Skill Development Programs & CSR Implementation
- Trainer Outsourcing & Payroll Management
Industry Expertise
Wagons Learning is renowned for its training in sales, customer service, soft skills, behavioural, functional, and knowledge-based modules, catering to sectors such as:
- Automotive
- Banking & Financial Services
- Pharmaceuticals
- Healthcare
Certified by NSDC under the Skill Sathi initiative (valid through January 4, 2027), the company has successfully trained over 500,000 professionals through classroom, virtual, and digital delivery formats.
Expanding Reach
Wagons Learning serves clients across India and has established a global presence with a branch in Dubai, UAE, offering:
- EdTech solutions
- Digital libraries
- Government project implementation
- Content development services
The company is also set to enter the B2C segment by launching industry-relevant certification programs designed to enhance employability.
Workforce Strength
As of June 30, 2024, Wagons Learning employs 77 full-time professionals, driving its vision to deliver impactful and scalable learning solutions.
Get more information about the company @ http://www.wagonslearning.com/
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Wagons Learning IPO Details |
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| IPO opens on | 2 May 2025 |
| IPO closes on | 6 May 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 4680000 Shares / Rs 38.38 Crore |
| * Fresh Issue | 3080000 Shares / Rs 25.26 Crore |
| * Offer for Sale – | 1600000 shares / Rs.13.12 crore |
| Market Maker Portion | 235200 Shares |
| Net offer to Public | 4444800 Shares/ Rs 36.45 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 78-82 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1600 Shares |
| Listing will at | BSE SME |
Shares offered in IPO |
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| Shares | Rs. (Crore) | |
| QIB (11.99%) | 532931 | 4.37 |
| HNI (38.01%) | 11689468 | 13.86 |
| RII (50%) | 2222400 | 18.22 |
| Total Shares | 4444800 | 36.45 |
| Retail portion will be oversubscribed by |
1389 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 1600 Shares | Rs.131200 |
| Min HNI Application | 3200 Shares | Rs. 262400 |
Who are the Promoters of Wagons Learning?
Uday Jagannath Shetty and Raviraj Poojary are the company promoters.
What are the Objects of Wagons Learning IPO?
The Company proposes to utilize the Net Proceeds towards funding of the following objects:
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To meet out the Working Capital requirements of the Company.
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Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company.
- General Corporate Purpose
Tentative timetable |
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| IPO opens on | 2 May 2025 |
| IPO Closes on | 6 May 2025 |
| IPO Allotment on | 7 May 2025 |
| Refund Initiation | 8 May 2025 |
| Credit of Shares | 8 May 2025 |
| Listing on | 9 May 2025 |
| Registered Office of the Company Wagons Learning Limited Office No. 302, Tower 2, Montreal Business Center, Pallod Farms, Baner, Pune |
| Who is the Lead Manager of this IPO? Khandwala Securities Ltd |
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Who is the Registrar to IPO? Cameo Services Ltd |
Wagons Learning IPO GMP grey market premium, review, Subscription, allotment, listing estimate
Wagons Learning Financial Performance
| Period Ended | 31-Dec-24 | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
| Assets | 33.02 | 21.41 | 8.54 | 6.47 |
| Revenue | 33.23 | 33.51 | 16.17 | 9.89 |
| Profit After Tax | 5.54 | 5.61 | 0.71 | 0.09 |
| Net Worth | 19.2 | 13.66 | 4.8 | 4.09 |
| Reserves and Surplus | 6.68 | 1.14 | 4.79 | 4.08 |
| Total Borrowing | 10.45 | 4.23 | 1.69 | 0.97 |
| Amount in Rs. Crore | ||||
Key Performance
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| PE Ratio | 18.29 |
| RoNW | 60.80 |
| Debt/Equity Ratio | 0.31 |
How Wagons Learning IPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) |
| Wagons Learning Limited | 18.29 | 60.80 |
| NIIT Learning Systems Limited | 24.3 | 17.54 |
| Vinsys It Services India Limited | 19.90 | 22.68 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Wagons Learning IPO Review by Paresh Gordhandas, CA & Research Analyst.
Wagons Learning is a well-regarded player in the training and development space, offering a diverse range of programs across sales, customer service, soft skills, behavioural training, functional skills, and knowledge-based modules. These programs are tailored for key sectors including:
- Automotive
- Banking & Financial Services
- Pharmaceuticals
- Healthcare
The company is certified by the National Skill Development Corporation (NSDC) under the Skill Sathi initiative, with certification valid until January 4, 2027. Over the years, it has trained more than 500,000 professionals through classroom sessions, virtual platforms, and digital delivery modes.
In the year preceding its IPO, Wagons Learning has reported a notable surge in both revenue and profitability, warranting a closer examination of the underlying drivers and sustainability of this performance.
It is important to note that Wagons Learning’s business model is not directly comparable to that of NIIT Learning Systems, as the scope, scale, and delivery approach differ significantly.
From a fundamental investment perspective, the IPO does not appear particularly compelling. However, the issue is being led by Khandwala Securities, a merchant banker with a track record of successful listings, which could support positive subscription sentiment.
+ from fundamental angle: So-so
+ from grey market angle: So-so
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