Western Overseas Study Abroad
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 11 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹56 | ₹0 |
| 10 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹56 | ₹0 |
| 09 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹56 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 04 Dec 2025 – 08 Dec 2025
- Listing date
- 11 Dec 2025
- Face value
- ₹1 per share
- Issue price
- ₹56 per share
- Lot size
- 2,000 shares
- Issue type
- Fixed Price issue
- Listing at
- BSE
- Total issue size
- ₹10.07 Cr
- Market cap at offer price
- ₹33.67 Cr
- Promoter holding
- 100.00% → 70.09% pre-issue → post-issue
- ISIN
- INE1MF401019
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Sobhagya Capital Options Pvt.Ltd.
- Registered office
- Ground Floor-First Floor, S.C.F No-27-28, Vikas Vihar, Haryana
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 90,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹56
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,12,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,24,000 |
| S-HNI (max) | 8 | 16,000 | ₹8,96,000 |
| B-HNI (min) | 9 | 18,000 | ₹10,08,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹56 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 5.25 | 3.61 |
| P/E (×) | 10.67 | 15.51 |
| Price to book (×) | 3.62 | — |
| Market cap | — | ₹33.67 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 33.86%
- ROCE
- 37.63%
- Debt / equity
- 0.63
- PAT margin
- 9.73%
- EBITDA margin
- 16.27%
- NAV per share
- ₹15.49
- Price to book
- 3.62
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Western Overseas Study Abroad
Incorporated on 18th September 2013 at Ambala City, Haryana as Western Overseas Study Abroad Private Limited and converted into a public limited company (renamed Western Overseas Study Abroad Limited) on 24th September 2024, the company is promoted by Mr. Pardeep Balyan and Mrs. Rekha Rani. It provides a one-stop solution for individuals seeking education or career opportunities abroad: online/offline coaching for English proficiency tests (IELTS, TOEFL, PTE, CELPIP, DUOLINGO, LANGUAGE CERT) and foreign languages (French, German, Spanish), test bookings, educational planning and career counselling, admission application formalities, education-loan guidance (in partnership with ICICI Bank), scholarships guidance, and visa processing for study, tourist/visitor, work, business and permanent-residency categories, along with post-visa/post-landing support. It operates a registered/head office in Ambala City, 12 branch offices (Karnal, Amritsar, Bathinda, Chandigarh, New Delhi, Indore, Jalandhar, Patiala, Rohtak, Kurukshetra, Sonipat) and a back-end office/call centre in Chandigarh, with 148 employees, serving customers predominantly from Punjab, Chandigarh, Haryana, Delhi and Madhya Pradesh and placing students with institutions in Canada, Australia, UK, USA, Germany and other countries. It earns revenue mainly as commission income from Indian and overseas institutions plus exam fees and related professional services; FY2023-24 revenue from operations was Rs. 2,030.24 lakhs with PAT of Rs. 119.02 lakhs. The current Draft Prospectus contemplates an IPO of up to 18,00,000 fresh equity shares (face value Rs. 10) on the SME Platform of BSE.
Company Analysis
from DRHPWestern Overseas Study Abroad Limited is an education-and-immigration consultancy that coaches students for language proficiency tests (IELTS, TOEFL, PTE, CELPIP, DUOLINGO) and foreign languages, counsels and places students in overseas universities, and files study, tourist, work, business and permanent-residency visa applications, spanning the education services and immigration advisory industries.
Incorporated on 18th September 2013 at Ambala City, Haryana as Western Overseas Study Abroad Private Limited and converted into a public limited company (renamed Western Overseas Study Abroad Limited) on 24th September 2024, the company is promoted by Mr. Pardeep Balyan and Mrs. Rekha Rani. It provides a one-stop solution for individuals seeking education or career opportunities abroad: online/offline coaching for English proficiency tests (IELTS, TOEFL, PTE, CELPIP, DUOLINGO, LANGUAGE CERT) and foreign languages (French, German, Spanish), test bookings, educational planning and career counselling, admission application formalities, education-loan guidance (in partnership with ICICI Bank), scholarships guidance, and visa processing for study, tourist/visitor, work, business and permanent-residency categories, along with post-visa/post-landing support. It operates a registered/head office in Ambala City, 12 branch offices (Karnal, Amritsar, Bathinda, Chandigarh, New Delhi, Indore, Jalandhar, Patiala, Rohtak, Kurukshetra, Sonipat) and a back-end office/call centre in Chandigarh, with 148 employees, serving customers predominantly from Punjab, Chandigarh, Haryana, Delhi and Madhya Pradesh and placing students with institutions in Canada, Australia, UK, USA, Germany and other countries. It earns revenue mainly as commission income from Indian and overseas institutions plus exam fees and related professional services; FY2023-24 revenue from operations was Rs. 2,030.24 lakhs with PAT of Rs. 119.02 lakhs. The current Draft Prospectus contemplates an IPO of up to 18,00,000 fresh equity shares (face value Rs. 10) on the SME Platform of BSE.
Objects of the Issue
- To finance Advertisement expenses towards enhancing the awareness and visibility of our brand Upto 392.50 Lakhs p.76
- To finance acquisition and installation of Software (ERP software with client websites, admin panel and iOS/Android mobile apps) Upto 350.00 Lakhs p.79
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company (ICICI Bank working-capital facility) Upto 200.00 Lakhs p.80
- To meet General Corporate Purposes [●] p.81
Issue Structure
- Total Issue
- Upto 18,00,000 Equity Shares at the Issue Price of Rs. [●] each aggregating Rs. [●] Lakhs
- Fresh Issue
- Upto 18,00,000 Equity Shares of face value Rs. 10/- each aggregating Rs. [●] Lakhs (entire issue is a fresh issue)
- Offer for Sale
- Nil (offer for sale not applicable as the entire issue constitutes a fresh issue of equity shares)
- Price Band
- 100% Fixed Price Issue; Issue Price of Rs. [●] per Equity Share (including share premium of Rs. [●])
- Lot Size
- [●] Equity Shares (minimum lot size)
- Face Value
- Rs. 10/-
Business Model
The Company earns revenue primarily as (i) commission income from higher-education institutions in India and, predominantly, from global institutions located abroad (Canada, Australia, UK, Germany being the largest contributors) for recruiting and placing students; and (ii) exam fees and related professional-service fees from language-proficiency test training and bookings (IELTS, PTE, TOEFL, CELPIP, DUOLINGO), foreign-language courses and visa/immigration advisory services.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Pardeep Balyan | Promoter, Chairperson & Managing Director | 60.00% | — |
| Mrs. Rekha Rani | Promoter, Whole Time Director | 40.00% | — |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.