Wagons Learning Ltd

About Wagons Learning Limited IPO

Wagons Learning Limited IPO is an IPO of 46,80,000 shares. It consists of an offer for sale of 16,00,000 shares and a fresh issue of 30,80,000 shares. The shares will be allotted on TBA. The credit of shares to the demat account will take place on TBA and the initiation of refunds will take place on TBA.

Objective of Wagons Learning Limited IPO

• To meet the working capital requirements of the company.
• Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company.
• To meet general corporate purposes.

Industry Outlook

India has proved itself to be a valuable business centre for multinational corporations across the globe. Whether in software programming, hardware and networking, finance and accounting, hospitality, travel and tourism, education, fashion, manufacturing, pharmaceuticals, or infrastructure management, India plays an undeniably significant role globally. The corporate training market in India is in its growth stage and will continue to be so for the next 10-15 years. Considering the size and magnitude of growth factors, such as a robust IT and service industry, a large and young workforce, and India’s fast GDP growth, the corporate training market is still relatively underpenetrated in India. Its size is small compared to the global corporate training market, indicating significant untapped potential for growth. From FY'13 to FY'19, the market was growing rapidly at a healthy double-digit CAGR; however, in FY'21, the overall market growth contracted due to the Covid-19 pandemic. During the review period 2017-2022, the corporate training market in India grew at a positive CAGR of 9.8%. Even though there was a negative contraction in FY'21, the market managed to maintain a positive CAGR, as IT and service companies quickly resumed operations by adopting hybrid and work-from-home models, and training companies were able to deliver online through various modes of e-learning.

Company Information

Wagons Learning Limited is engaged in providing corporate training, digital learning, and skill development solutions. They operate on a B2B model, offering training and certifications, digital learning solutions, skill development solutions, trainer outsourcing, and payroll management solutions to their clients. They specialise in corporate training and consulting across a broad range of domains, such as sales training, customer service training, soft skills and behavioural training, functional training, and knowledge-based and skill-based training solutions to the employees of corporates operating in industries such as automotive, banking and financial services, pharma and healthcare services, etc. Their corporate training programmes provide holistic solutions, and they are committed to a philosophy of excellence. Their team has a broad network to offer training and organisational development resources. In addition to certifications and training offerings, they provide comprehensive and advanced digital learning solutions. Their digital library is compatible with all Learning Management Systems (LMS) and Learning Experience Platforms (LxP). Their full suite of software service offerings includes LMS, LxP, and digital libraries to corporates, universities, schools, and colleges.

Risks of Wagons Learning Limited IPO

• Technological advances: Rapid technological advancements may render existing platforms or content obsolete if the company fails to innovate.

• Dependence on infrastructure: Reliance on digital infrastructure makes the company vulnerable to cyber threats and technological failures.

• Conflict of Interest: Conflict of interest may arise out of common business objects with group companies.

Anchor Investor Information

IPO Registrar and Book Running Lead Managers

Book running lead managers:

Khandwala Securities Limited

Registrar for the IPO is Cameo Corporate Services Limited

Business Model

The company earns its revenue through the following sources:

It operates under four different verticals and is involved in providing four different services for the training and development of their customers, who are predominantly employees of corporates operating in industries such as automotive, banking and financial services, pharma and healthcare services, as well as beneficiaries/students of skill development or CSR initiatives endorsed by the Government of India or other certification programmes provided by the NSDC.

Company Growth Trajectory

Total income has increased by ₹6.314 crores, or 99.63%, from ₹9.791 crores in the fiscal year ended March 31, 2022, to ₹16.106 crores in the fiscal year ended March 31, 2023. Other expenses have increased by ₹5.112 crores, or 78.61%, from ₹6.502 crores in the fiscal year ended March 31, 2022, to ₹11.615 crores in the fiscal year ended March 31, 2023, due to an increase in business. Net profit after tax, extraordinary items, and minority interest has increased by ₹0.616 crores, or 656.64%, from ₹0.094 crores in the fiscal year ended March 31, 2022, to ₹0.709 crores in the fiscal year ended March 31, 2023, due to an increase in the client base and lower spending on content creation.

Company Market Position

Competition in each of their business segments, as well as in the education sector as a whole, is generally fragmented. They face intense competition from both local and international players in this domain. To remain competitive in this market, they are constantly exploring innovative approaches to attract and retain their customers while maintaining the quality of their courses. By embracing the latest methods and technologies, they strive to stand out amidst the competition.

How To Check Allotment Status of Wagons Learning Limited IPO?

You can check the allotment status of shares either on the website of the Bombay Stock Exchange (BSE) or on the website of the registrar Cameo Corporate Services Limited. To check the status on the BSE website:

• Visit the BSE website
• Click on “Investor Services” and choose “Application Status Check”
• Choose the issue type — Equity or Debt (Equity in this case)
• Select the Issue Name from the drop-down. The issue name is the company’s name, which is Wagons Learning Limited
• Enter your application number or PAN number
• Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status

Follow these steps to know the allotment status on the registrar’s website:

• Visit the Cameo Corporate Services Limited website
• Choose “Public Issues” from the “Investor Services” drop-down
• Select Wagons Learning Limited from the drop-down
• Enter your PAN number or Application number
• Click on “Submit” to know the allotment status

How to Apply for Dr Agarwal’s Health Care Ltd IPO?

To apply for this IPO:

• Step 1: Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section
• Step 2: Specify IPO details: Enter the number of lots and the price you wish to apply for
• Step 3: Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange
• Step 4: Mandate Notification: Your UPI app will receive a mandate notification to block funds
• Step 5: Approve Request: Your funds will be blocked once you approve the mandate request on your UPI