Western Overseas Study Abroad Ltd IPO
Education
Price Band
₹56 – ₹56
Lot Size
2000
Minimum Bid Quantity
4000
Minimum Investment
₹224000
Issue Size
₹10.07Cr
Opens
2025-12-04
Closes
2025-12-08
Listing
11-12-2025
IPO Details
Issue Type
FP
Face Value
₹10
Tick Size
1
ISIN
INE1MF401019
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Western Overseas Study Abroad is engaged in providing educational and immigration advisory services. Incorporated in 2013 and headquartered in Haryana, the company offers guidance to individuals seeking education or career opportunities abroad. Its services include education consultancy, admission support, visa assistance (study, tourist, work, business, and permanent residency), and education loan and scholarship guidance. The company also provides language training for tests such as the International English Language Testing System (IELTS), Test of English as a Foreign Language (TOEFL), Pearson Test of English (PTE), Canadian English Language Proficiency Index Program (CELPIP), and Duolingo, as well as courses in foreign languages like French, German, and Spanish. Additionally, it conducts seminars and workshops on domestic and international education topics. Western Overseas operates through 12 branches and one back-end office equipped with training facilities and consultancy desks. The company serves clients primarily from Punjab, Chandigarh, Haryana, Delhi, and Madhya Pradesh and has extended its presence to 14 countries, including Canada, Australia, the UK, and the US.
Pros
- • Western Overseas claims to provide individualised advice and guidance tailored to each client’s circumstances and goals. The company emphasises customised application strategies designed to address distinct needs, which it considers a key factor in generating client referrals.
- • The company claims to have a well-equipped infrastructure that includes advanced classrooms, online lectures, and virtual meetings for resolving client queries. It also leverages technology for document submission, verification, and communication, and offers online platforms where clients can track the progress of their cases.
- • Western Overseas claims to offer a comprehensive range of services, from language training and consultation to application processing and post-arrival support, within a single framework. This centralised approach is intended to serve varied client requirements and attract a wider clientele compared to single-service providers.
Cons
- • Western Overseas derives a significant portion of its revenue from a limited number of global institutions. The top five institutions accounted for 18.82 percent of the company’s revenue for the period ended June 30, 2025; 19.84 percent in FY25; 24.09 percent in FY24; and 16.58 percent in FY23. Any loss of association or inability to maintain relationships with these institutions can adversely impact the company’s business, financial condition, and cash flows.
- • The company reported negative cash flow from operating activities amounting to Rs 0.13 crore for the period ended June 30, 2025, Rs 0.28 crore in FY25, and Rs 2.07 crore in FY24. Additionally, negative cash flow from investing activities amounted to Rs 0.23 crore for the period ended June 30, 2025, Rs 0.18 crore in FY25, Rs 0.81 crore in FY24, and Rs 0.83 crore in FY23. Net cash outflow amounted to Rs 0.20 crore in FY25 and Rs 0.25 crore in FY24. Continued negative cash flow in future could adversely affect the company’s financial condition, liquidity position, and overall growth prospects.
- • Western Overseas derives a major share of its revenue from operations with global institutions located outside India. They accounted for Rs 2.32 crore (46.89 percent), Rs 11.81 crore (51.98 percent), Rs 12.76 crore (62.83 percent), and Rs 6.86 crore (67.57 percent) of the company’s revenue for the period ended June 30, 2025, FY25, FY24, and FY23, respectively. Canada alone accounted for Rs 0.98 crore (19.77 percent) of the company’s revenue for the period ended June 30, 2025; Rs 5.46 crore (24.03 percent) in FY25; Rs 6.64 crore (32.71 percent) in FY24; and Rs 4.13 crore (40.71 percent) in FY23. Any adverse economic, political, or regulatory developments in these regions, or the company’s inability to expand its operations, could negatively impact its business operations, revenue, and financial performance.
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