Siddharth Education Services Ltd

About the Company:

Siddharth Education Services is engaged in providing tutorial coaching services for students of professional courses.

Company has its Registered Office at 101, 1st Floor, Chirag Arcade, Behind Nagarik Stores, E.R. Road, Thane (West)- 400 601, Maharashtra, India.

Company’s Promoter Mr. Vinay Bhagwat has a vast experience of over 20 years in the field of teaching students of professional courses.

The tutorial services are provided through the classroom training programmes conducted through a network of Company operated centres.

Currently they have 4 Company operated centres and is managed by a team of 22 faculty members.

The 4  locations are in Mumbai at Thane, Dadar, Dombivli and Vashi.

They also offer test series courses which have been systematically designed to provide education to students in simple manner.

Company also has a partnership firm in the name  of “Bageshree Farms” was started in FY 2015 wherein Siddharth Education Services Ltd owns majority stake.

Currently they procure products such as mangoes, jackfruit, kokam (Garcinia Indica), & cashew nuts and then further processed for making more durable products like mango pulp, jackfruit chips, kokam syrup, making cashew nuts marketable.

Currently they are providing coaching services for the following courses:

• Company Secretary (C.S.), Course of the Institute of Company Secretaries of India (ICSI)
• Chartered Accountancy (C.A.), Course of the Institute of Chartered Accountants of India (ICAI)
• Cost and Management Accountancy (C.M.A.), Course of the Institute of Cost Accountants of India (ICAI)

 

Company plans to open Coaching centers at the following location in the Near Future:

• Ratnagiri
• Ghatkopar
• Kandivali
• Aurangabad
• Chiplun
• Ullhasnagar
• Kolhapur
• Sangli
• Jaipur
• Pune

 

Objectives of the Issue:

• Establishment of new Coaching Centers.
• Acquisition of human resource training centres.
• Digital marketing and online training.
• General corporate purpose

 

Fund Utilization:

Particulars	Amount (Rs. in Crores)
Establishment of new coaching centres	2.2
Acquisition of human resource training centres	2.6
Digital Marketing and Online Training	1.61
Net Proceeds	6.41 cr

 

Management Team:

1. Mrs. Reena Dileep Kulkarni (Designation:Managing Director)
2. Mr. Vinay Shantaram Bhagwat (Designation:Non Executive and Non Independent Director)
3. Mr. Ramdas Trimbak Rajguroo (Designation:Non Executive and Independent Director)

 

Promoters Average Acquisition Cost:

Name of the Promoter	No. of Shares held	Average Acquisition Cost (in Rs.)
Mr. Vinay Shantaram Bhagwat	36,24,060	5.08

 

Promoters Stake Pre & Post Issue:

Shareholder Name	Pre Issue Stake (%)	Post Issue Stake
Promoters (A)
Vinay Shantaram Bhagwat	42.67	31.23
Promoter Group Entities(B)	56	40.99
Total	98.67%	72.22%

 

Check IPO Allotment Status:
Karvy Website http://kosmic.karvy.com:81/ipotrack/

 

Financials of the Company:

(in Crores)	FY 13	FY 14	FY 15	FY 16	FY 17
Revenue	1.88	2.7	2.07	3.69	4.94
Net Profit	0.13	(-0.00038)	(-0.30)	0.64	0.97

 

Valuation of Peer Group Companies:

Company Name	Face Value	EPS	PE Ratio	RoNW (%)
MT Educare Limited	10	2.7	20	25.1
Career Point Infosystems Limited	10	2.7	37.8	73.6
Siddharth Education Services Ltd	10	1.40	25.71	19.18

 

IPO Details:

Details	Info
Issue Opens on	29th September 2017
Issue Closes on:.	5th October 2017
Issue Price	Rs.30 – 36
Face Value	Rs.10
Minimum Lot	4000
Minimum Investment	Rs.1,44,000
Issue Constitutes	26.79%
Issue Size	Rs.11.18 cr
Market Cap	Rs.41.75 cr
Listing at	BSE SME
Equity Shares Offered	31,08,000
Equity Shares Prior	84,91,500
Equity Shares after the issue	1,15,99,500

 

IPO Valuation Parameters:

Earnings Per Share (EPS)	Price To Earnings ratio (PE)	Return on Net Worth (RoNW)	Net Asset Value (NAV)
1.40	25.71	19.18%	7.28

 

Markets Guruji Opinion:

IPO View	Apply For:	Expected listing Gain:
Avoid	NA	NA