IPO Details
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Schedule of Western Overseas Study Abroad Ltd
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About Western Overseas Study Abroad Ltd IPO
The IPO of Western Overseas Study Abroad Ltd consists of only a fresh issue of up to 18,00,000 equity shares. There’s no offer for sale in this IPO, which is a 100% fixed price issue.
Objectives of Western Overseas Study Ltd IPO
- To finance advertisement expenses towards enhancing the awareness and visibility of its brand
- To finance acquisition and installation of software
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company
- To meet general corporate purposes
Western Overseas Study Ltd IPO Valuation
Industry Outlook
The global tourism market size was worth around USD 11.39 trillion in 2023 and is predicted to grow to around USD 18.44 trillion by 2032 with a compound annual growth rate (CAGR) of roughly 5.5% between 2024 and 2032. Also, the education sector in India was estimated to be worth US$ 117 billion in FY20 and is expected to reach US$ 225 billion by FY25.
Company Information
Western Overseas Study Abroad Ltd offers a comprehensive range of professional programs which includes:
- Education Consultancy
- Education Loan Guidance and Scholarships
- Admission & filing of application formalities
- Training for Language Proficiency Tests
- Study Visa, tourist Visa etc
It also provides admission support to its students right from the time when they enroll with it.
Western Overseas Study Abroad Ltd Strengths
Customisation Expertise
Western Overseas offers individualised advice and guidance tailored to each client's circumstances and goals. Providing all-encompassing services that address specific challenges or requirements is consistently appealing to every client, and it firmly believes in this approach. Customising application strategies to fulfil the distinct needs of each individual is the key reason why its clients refer it to their friends and relatives.
Technology Integration
The company has a well-equipped infrastructure for its clients, which includes advanced classrooms, online lectures, online meetings for doubts solving and client interaction. It also leverages technology for document submission, verification, and communication. Western Overseas also offers online platforms for clients to track the progress of their cases and access information.
Range of Services Under One Roof
From training to consultation and application processing to reaching the final destination, Western overseas offers a comprehensive range of services tailored to the unique requirements and goals of each client, all under one roof. By delivering a multitude of services in a centralised location, the company is able to attract a broader clientele compared to those offering singular services.
Risks of Western Overseas Study Abroad Ltd
- Pending outstanding litigation procedures against the company
There are outstanding litigation proceedings involving their company, their promoters, any adverse outcome in which, may have an adverse impact on our reputation, business, financial condition, results of operations and cash flows.
- Reliance on Global Institutions
For the period ended March 31, 2022, March 31, 2023 and March 31, 2024 and for the four months ended 31st July, 2024, its revenue from its customers situated outside India contributed 66.25%, 67.57%, 62.83% and 54.24% respectively its total revenue from operations as per its restated financial statements. Its inability to further expand into new areas outside these markets may adversely affect its business prospects, financial conditions and results of operations.
- Changes in Foreign Policy on Visa and Immigration
Any political changes in the government of a foreign country may lead to the changes in the Immigration policy and Visa issue policy of that particular country. Government may change policy with regards to PR, Citizenship, students visa etc. This policy may have a significant effect on its business.
If its foreign government policy is to prioritise the citizens of its country, then they may frame the strict rules for Citizenship and immigration. In such an event its business, revenue and profitability will be adversely affected.
All Financial Information about Western Overseas Study Abroad
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Comparison with peers
| Company Name | Revenue from Operations (in ₹ crores) | EPS in ₹ | Return on Net Worth (in %) | NAV Per Share (in ₹) |
|---|---|---|---|---|
Western Overseas Study Abroad Ltd | 20.3024 | 3.95 | 27.29 | 14.49 |
Winny Immigration & Education Services Ltd | 10.8069 | 2.59 | 17.02 | 15.20 |
Anchor Investor Bidding Date TBA
IPO Registrar and Book Running Lead Manager
- IPO Registrar: Skyline Financial Services Pvt Ltd
- Book Running Lead Manager: Sobhagya Capital Options Pvt Ltd
Business Model
Western Overseas Study Abroad Ltd offers a comprehensive range of professional programmes, including education consultancy, education loan and guidance and scholarships, admission and filing of application formalities, training for language proficiency tests and study visa and tourist visa.
The company also offers a range of services in educational and immigration consultancy that include online and offline coaching, English proficiency test booking, work visa, business visa, etc.
Company Growth Trajectory
The company’s revenue from operations jumped from ₹9.0301 crores in FY 22 to ₹20.3024 crores in FY 24, while its EBITDA jumped from ₹1.4833 crores in FY 22 to ₹2.4015 crores in FY 24. An experienced and knowledgeable team coupled with a range of services under one roof has aided the company’s growth over the years.
Market Position
During the financial year 2023-24, the company has made its presence in 14 countries other than India across the world. The company has 12 branches and 1 back-end office with equipped classes to provide training services to the individuals and desk filled type offices with each desk dedicated to each consultant, who provide consultancy services at each of their desks to different individuals with one dedicated consultant per individual in relation to global education and immigration consultancy services.
Western Overseas Study Abroad Ltd Profit and Loss
| Parameter | FY 24 | FY 22 | FY 21 |
|---|---|---|---|
Total Income (in ₹ crores) | 20.3667 | 10.2060 | 9.0787 |
Profit Before Tax (in ₹ crores) | 1.6360 | 0.6031 | 1.1351 |
Profit (Loss) for the Period (in ₹ crores) | 1.1902 | 0.4494 | 0.8334 |
EPS in ₹ | 3.95 | 1.49 | 2.77 |
Western Overseas Study Abroad Balance Sheet
| Parameter | FY 24 | FY 22 | FY 21 |
|---|---|---|---|
Profit Before Tax (in ₹ crores) | 1.6360 | 0.6031 | 1.1351 |
Net Cash Flow from Operating Activities (in ₹ crores) | (2.0677) | 0.7431 | 0.7307 |
Net Cash Flow from Investing Activities (in ₹ crores) | (0.8114) | (0.8261) | (0.6832) |
Net Cash Flow from Financing Activities (in ₹ crores) | 2.6247 | 0.1783 | (0.0964) |
Cash and Cash Equivalents at the End of the Period (in ₹ crores) | 0.4122 | 0.6667 | 0.5713 |
How to Check Allotment Status of Western Overseas Study Abroad Ltd?
Visit the Registrar’s Website
- Visit the official website of Skyline Financial Services Pvt Ltd
- Click on ‘Check Allotment Status’ under ‘Rights Issue’
- Choose the Company Name and enter either your DP ID, CAF No or PAN No
- Click on ‘Search’ to know the status
Check on the Bombay Stock Exchange Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investor Services' tab. Under 'Investors Services', click on 'Status of Issue Application'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:
- Choose the Issue Type
- Select the Issue Name from dropdown
- Put in either your application number or PAN number
- Check the box ‘I’m not a robot’
- Click on ‘Search’ to know allotment status
How to Apply for Western Overseas Study Ltd IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Western Overseas Study Abroad Ltd IPO FAQs
What is the Western Overseas Study Abroad Ltd IPO?
The Western Overseas Study Abroad Ltd IPO comprises only a fresh issue of up to 18,00,000 equity shares.
When will the IPO of Western Overseas Study Abroad Ltd go live?
The exact dates of the IPO are yet to be announced.
From where can I read more about the IPO of Western Overseas Study Abroad Ltd IPO?
You can read more about the IPO of Western Overseas Study Abroad Ltd from the company’s draft red herring prospectus here.
