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Klassroom files DRHP for SME IPO; revenue jumps 120% in FY25

EntrackrEntrackr · 1d ago
Klassroom files DRHP for SME IPO; revenue jumps 120% in FY25
Medial

Klassroom files DRHP for SME IPO; revenue jumps 120% in FY25 Edtech startup Klassroom has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India to launch an initial public offering on the SME platform of the Bombay Stock Exchange, according to its regulatory filings. The proposed IPO comprises a mix of fresh issue of equity shares and an offer-for-sale (OFS) by existing shareholders. According to the DRHP, the proceeds from the fresh issue will be used for debt repayment, strengthening its technology stack, including AI/ML capabilities, content development, and marketing initiatives. The OFS component will allow select promoters and early investors to pare their stakes partially. Founded in 2016, Klassroom operates a hybrid learning ecosystem that blends its AI-powered education OTT platform with a network of offline partner centres. The company focuses on students from Classes 8 to 12, offering recorded and live classes while expanding through a franchise-led, asset-light model. The filing comes at a time when the edtech sector is witnessing a measured recovery following a prolonged funding slowdown. Unlike several venture-backed peers that are still chasing profitability, Klassroom has reported improving bottom-line performance. In terms of financials, the company’s revenue from operations grew 120% to Rs 10.1 crore in FY25 from Rs 4.6 crore in FY24. Its net profit jumped nearly eightfold to Rs 2.9 crore in FY25 compared to Rs 34.4 lakh a year earlier. For the six months ended September FY26, Klassroom reported Rs 12.4 crore in operating revenue with a net profit of around Rs 4 crore.

Exclusive: Suniel Shetty-backed Klassroom converts into public company

EntrackrEntrackr · 3m ago
Exclusive: Suniel Shetty-backed Klassroom converts into public company
Medial

Snippets Exclusive: Suniel Shetty-backed Klassroom converts into public company Education OTT platform Klassroom Edutech has begun preparing for its initial public offering (IPO), joining the growing list of startups going public, after passing a resolution to convert into a public company. Klassroom’s board passed a special resolution to change the company’s status to a public company and rename it from “Fusion Klassroom Edutech Pvt Ltd” to “Fusion Klassroom Edutech Limited,” according to its filing with the Registrar of Companies (RoC). Founded in 2016 by Alka, Dhruv, and Dhumil Javeeri, Klassroom is an O2O (offline to online) tutoring platform for students from 6th to 12th grade, as well as IIT JEE, NEET, CA, and CS aspirants. The platform has over 200 offline partner centers across 600 cities and over 300,000 online learners. Earlier this year in January, the company secured undisclosed funding in a Pre-Series A funding round led by ah! Ventures, along with participation from LetsVenture. For the fiscal year ended March 2024, Klassroom’s operating revenue remained flat at Rs 4.6 crore, while the company turned profitable with a net profit of Rs 28.5 lakh.

Rs 9.5 lakh crore Investor Wealth Wiped Out After 3 HMPV Cases in India

Money ControlMoney Control · 1y ago
Rs 9.5 lakh crore Investor Wealth Wiped Out After 3 HMPV Cases in India
Medial

Indian equity markets witnessed a sharp decline on January 6, with the market capitalisation erosion exceeding Rs 9.5 lakh crore — the steepest single-day fall in three months. The benchmark indices Sensex and Nifty dropped over 1.5% amid rising investor concerns. Among broader indices, BSE MidCap and Smallcap declined over 2 percent each while BSE SME IPO index lost 1.5 percent. The decline in markets coincided with news of two confirmed cases of Human Metapneumovirus (HMPV) in Karnataka, detected during routine surveillance. The Indian Ministry of Health emphasised that HMPV is not a new virus and has been circulating globally, including in India, with no unusual surge in influenza-like illnesses reported domestically.

WestBridge Capital-backed IndiQube files DRHP for Rs 850 Cr IPO

EntrackrEntrackr · 1y ago
WestBridge Capital-backed IndiQube files DRHP for Rs 850 Cr IPO
Medial

WestBridge Capital-backed IndiQube files DRHP for Rs 850 Cr IPO Workspace provider IndiQube has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO includes a fresh issue of equity shares worth Rs 750 crore (approximately $89 million) and an offer for sale (OFS) of equity shares amounting to Rs 100 crore. Co-founders Rishi Das and Meghna Agarwal will each sell shares worth Rs 50 crore through the OFS. Notably, no external shareholders are participating in the OFS, highlighting the founders' significant role in the offering. According to the DRHP, Anshuman Das is IndiQube's largest shareholder, holding 25.32%, followed by Aravali Investment Holding with 22.07%. Other notable shareholders include WestBridge Capital (5.79%), Carenet Technologies (5.15%), and Hirepro Consulting (2.15%). The company's co-founders, Rishi Das and Meghna Agarwal, cumulatively own 37.92% of the company. IndiQube plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by ICICI Securities Limited and JM Financial, who are acting as the book-running lead managers. According to the company, the net proceeds from the fresh issue will be utilized for the establishment of new centers, repayment of borrowings, and other general corporate purposes. In the first quarter of the ongoing fiscal year, IndiQube reported revenue of Rs 242 crore, while its losses stood at Rs 42 crore. The WestBridge Capital-backed firm achieved a 43% year-on-year growth in revenue, reaching Rs 830 crore in FY24, up from Rs 580 crore in FY23. However, the pursuit of growth came at a cost, with losses surging 72.2% to Rs 341 crore in FY24, compared to Rs 198 crore in FY23.

OTT platform Ullu next in line to go public, files DRHP

EntrackrEntrackr · 2y ago
OTT platform Ullu next in line to go public, files DRHP
Medial

Homegrown over-the-top (OTT) platform Ullu Digital Limited has filed a draft red herring prospectus (DRHP) with the BSE SME for an initial public offering (IPO). The company has proposed to raise funds via fresh issue of up to 62,62,800 equity shares. Notably, the company’s DRHP doesn’t have any offer for sale (OFS) component. As per Moneycontrol report, Ullu plans to raise around Rs 135-150 crore in the IPO. This will value the company around Rs 500-570 crore or $60-70 million. Narnolia Financial Services Ltd and Skyline Financial Services Ltd are the book-running lead managers of the issue. The OTT platform plans to deploy the IPO proceeds for the production of new content, purchase of international shows, purchase of state-of-the-art equipment and hiring of staff, working capital requirement and other general corporate purposes. As per the DRHP, founder of the company Vibhu Agarwal commands 61.75% shares while Megha Aggarwal owns 33.25% of the company. Zenith Multi Trading DMCC has a 5% stake in Ullu. For the half year ending September 2023 (Apr-Sep 2023), Ullu generated Rs 58.33 crore revenue from operations with a profit of Rs 12.28 crore. Ullu is a membership-led platform which streams web series, movies, and other forms of content. The company earns the majority of its revenue from the sale of subscriptions. As of September 2023, the company has 20,92,975 subscribers. However, the user base of the company declined over 24% from 27,59,397 subscribers during March 2023. The company had around 17,70,439 and 11,46,646 subscribers at the ends of March 2022 and 2021, respectively. During FY23, Ullu’s revenue from operations grew two-fold to Rs 93.1 crore as compared to Rs 46.8 crore in FY22. Its profits jumped 3.87X to Rs 15.1 crore in FY23 as compared to Rs 3.9 crore in FY22. Ullu has joined the list of tech-companies that are planning their public listing soon. The list includes ixigo, Unicommerce, Ola Electric, Awfis, and FirstCry among others.

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