Wagons Learning Limited, a Pune-based corporate training and education solutions provider, has announced its Wagons Learning Limited IPO to be listed on the BSE SME platform. Below are the key details of the IPO:
Key Wagons Learning Limited IPO Details
- IPO Opening Date: Friday, May 2, 2025
- IPO Closing Date: Tuesday, May 6, 2025
- Issue Size: ₹38.38 crore
- Price Band: ₹78 to ₹82 per share
- Lot Size: 1,600 shares
- Minimum Investment: ₹124,800
- Issue Type: Book Building
- Total Issue Size: Up to 46.80 lakh equity shares of face value ₹10 each
- Fresh Issue: 30.80 lakh shares
- Allotment Finalization: Wednesday, May 7, 2025
- Listing Date: Friday, May 9, 2025
- Listing Exchange: BSE SME
Promoters of Wagons Learning Limited IPO
Wagons Learning Limited is led by two primary promoters: Uday Jagannath Shetty and Raviraj Koggu Poojary. Both have played pivotal roles in shaping the company’s direction and growth since its inception.
Uday Jagannath Shetty
- Position: Chief Executive Officer (CEO) and Director
- DIN: 03424377
- Location: Pune, Maharashtra
- Background: Uday Shetty is a seasoned entrepreneur with a strong foothold in the corporate training sector. Beyond his role at Wagons Learning Limited, he holds directorship positions in several companies, including:
- Philomath Digital LLP
- Wealth Infoline Financial Services LLP
- Wagons Skill Foundation
- 99 Jobs Private Limited
- Tiqwick Securities Private Limited
- Snowscoop Foods LLP
- Yogitree Wellness LLP
- Role at Wagons Learning: As CEO, Uday Shetty oversees the company’s strategic initiatives, ensuring alignment with its mission to provide high-quality corporate training solutions across various industries.
Raviraj Koggu Poojary
- Position: Director and Head of Business Development
- DIN: 03424360
- Location: Udupi, Karnataka
- Background: Raviraj Poojary brings a wealth of experience in business development and strategic planning. His directorships span multiple organizations, including:
- Wagons Skill Foundation
- 99 Jobs Private Limited
- Tiqwick Securities Private Limited
- Snowscoop Foods LLP
- Yogitree Wellness LLP
- Role at Wagons Learning: As Head of Business Development, Raviraj focuses on expanding the company’s market presence, forging strategic partnerships, and driving growth initiatives.
Both Uday Shetty and Raviraj Poojary have been instrumental in establishing Wagons Learning Limited as a leading provider of corporate training solutions in India.
Their combined expertise and leadership have propelled the company to train over 1 million professionals and undertake numerous CSR projects through the Wagons Skill Foundation.
Management & Shareholding
- CEO: Uday Jagannath Shetty
- CFO: Abhishek Sinha
- Company Secretary: Neeru Saini
- Promoter Holding (Pre-IPO): 67%
- Public Holding (Pre-IPO): 33%
Wagons Learning Limited IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Minimum) | 1 | 1,600 | ₹1,31,200 |
| Retail (Maximum) | 1 | 1,600 | ₹1,31,200 |
| HNI (Minimum) | 2 | 3,200 | ₹2,62,400 |
About Wagons Learning Limited
Wagons Learning Limited is a Pune-based professional training and edtech company specializing in corporate training, digital learning, and skill development solutions.
Established on October 31, 2013, the company operates on a B2B model, offering customized training programs across various industries, including automotive, banking and financial services, pharmaceuticals, and healthcare.
Company Overview
- Founded: October 31, 2013
- Headquarters: Office No. 302, Tower 2, Montreal Business Center, Pallod Farms, Baner, Pune, Maharashtra – 411045
- Corporate Identification Number (CIN): U93000PN2013PLC149316
- Authorized Share Capital: ₹16 crore
- Paid-up Capital: ₹12.52 crore
- Company Type: Public, Non-Government
- Industry: Professional Training & Coaching
- Website: www.wagonslearning.com
Services and Offerings
Wagons Learning provides a comprehensive suite of services designed to enhance organizational performance and individual competencies:
- Corporate Training: Programs in sales excellence, customer service, leadership, personal effectiveness, and more.
- Digital Learning Solutions: Development of custom e-learning content, microlearning modules, game-based learning, interactive videos, and augmented reality experiences.
- Learning Management System (LMS) & Learning Experience Platform (LxP): Platforms that offer personalized learning journeys, gamified modules, real-time assessments, and analytics.
- SmartSiksha: An AI-based School Management System aimed at enhancing the efficiency of educational institutions.
- Skill Development Programs: Certified by the National Skill Development Corporation (NSDC) to conduct various skill development initiatives under the Skill Sathi program, valid until January 4, 2027.
As of the latest available data, Wagons Learning has trained over 1 million professionals and executed more than 1,400 e-learning projects, supported by a network of over 1,800 trainers.
Clientele and Impact
Wagons Learning serves a diverse range of clients across multiple sectors, including automotive, banking and financial services, pharmaceuticals, and healthcare. The company’s training programs are tailored to meet the specific needs of each client, ensuring measurable improvements in performance and productivity.
Through its CSR arm, Wagons Skill Foundation, the company has undertaken over 40 projects aimed at building an empowered India by providing ‘Skills for Employability.
Financial Highlights
- Revenue Growth: 63.46% year-over-year increase
- Profit Growth: 333.15% year-over-year increase
- Net Worth Growth: 16.67% year-over-year increase
- Total Assets Growth: 32.63% year-over-year increase
Wagons Learning Limited IPO Financial Information
Here is the financial performance of Wagons Learning Limited for the fiscal years ending March 31, 2021, 2022, and 2023:
Financial Summary
| Particulars | FY 2021 | FY 2022 | FY 2023 |
|---|---|---|---|
| Net Sales | ₹5.50 Crores | ₹9.79 Crores | ₹16.11 Crores |
| Total Expenditure | ₹5.26 Crores | ₹9.63 Crores | ₹14.96 Crores |
| Operating Profit | ₹0.24 Crores | ₹0.16 Crores | ₹1.15 Crores |
| Other Income | ₹0.08 Crores | ₹0.10 Crores | ₹0.06 Crores |
| Interest Expense | ₹0.18 Crores | ₹0.08 Crores | ₹0.14 Crores |
| Depreciation | ₹0.03 Crores | ₹0.02 Crores | ₹0.06 Crores |
| Profit Before Tax (PBT) | ₹0.10 Crores | ₹0.15 Crores | ₹1.02 Crores |
| Tax Expense | ₹0.06 Crores | ₹0.06 Crores | ₹0.31 Crores |
| Net Profit (PAT) | ₹0.04 Crores | ₹0.09 Crores | ₹0.71 Crores |
| Adjusted EPS (₹) | ₹0.07 Crores | ₹0.10 Crores | ₹0.76 Crores |
Balance Sheet Highlights
| Particulars | FY 2021 | FY 2022 | FY 2023 |
|---|---|---|---|
| Share Capital | ₹0.01 Crores | ₹0.01 Crores | ₹0.01 Crores |
| Reserves & Surplus | ₹1.49 Crores | ₹4.08 Crores | ₹4.79 Crores |
| Borrowings | ₹0.09 Crores | ₹0.07 Crores | ₹0.04 Crores |
| Total Liabilities | ₹4.08 Crores | ₹6.40 Crores | ₹8.49 Crores |
| Net Block (Fixed Assets) | ₹0.03 Crores | ₹0.04 Crores | ₹0.06 Crores |
| Investments | ₹0.37 Crores | ₹1.47 Crores | ₹1.58 Crores |
| Loans & Advances | ₹0.92 Crores | ₹0.93 Crores | ₹1.06 Crores |
| Current Assets | ₹2.75 Crores | ₹3.96 Crores | ₹5.78 Crores |
| Total Assets | ₹4.08 Crores | ₹6.40 Crores | ₹8.49 Crores |
Key Financial Ratios
| Ratio | FY 2023 |
|---|---|
| Sales Growth (YoY) | 64.49% |
| Profit Growth (YoY) | 656.88% |
| Return on Equity (ROE) | 15.95% |
| Return on Capital Employed (ROCE) | 20.01% |
| Debt-to-Equity Ratio | 0.35 |
These figures indicate that Wagons Learning Limited has demonstrated significant growth in revenue and profitability over the past three fiscal years, with a strong improvement in key financial ratios, suggesting a robust financial position leading up to its IPO.
Key Performance Indicator (KPI)
Here is a comprehensive overview of Wagons Learning Limited‘s Key Performance Indicators (KPIs) for the fiscal year ending March 31, 2023:
| Metric | FY 2023 | FY 2022 | Year-over-Year (YoY) Change |
|---|---|---|---|
| Revenue from Operations (₹ Cr) | 16.11 | 9.79 | +64.49% |
| Profit After Tax (₹ Cr) | 0.71 | 0.09 | +688.89% |
| EBITDA (₹ Cr) | 1.15 | 0.16 | +618.75% |
| EBITDA Margin (%) | 7.14% | 1.63% | +5.51 percentage points |
| Net Profit Margin (%) | 4.41% | 0.92% | +3.49 percentage points |
| Return on Equity (ROE) (%) | 15.95% | 2.21% | +13.74 percentage points |
| Return on Capital Employed (ROCE) (%) | 20.01% | 2.44% | +17.57 percentage points |
| Debt-to-Equity Ratio | 0.35 | 0.02 | +0.33 |
| Earnings Per Share (EPS) (₹) | 0.76 | 0.10 | +660.00% |
Analysis
- Revenue Growth: The company achieved a substantial increase in revenue, growing by approximately 64.49% compared to the previous fiscal year.
- Profitability: Profit After Tax (PAT) surged by around 688.89%, indicating improved operational efficiency and cost management
- Margins: Both EBITDA and Net Profit Margins saw significant improvements, reflecting enhanced profitability.
- Returns: The Return on Equity (ROE) and Return on Capital Employed (ROCE) increased markedly, showcasing better utilization of equity and capital resources.
- Leverage: The Debt-to-Equity ratio rose to 0.35, suggesting a moderate increase in leverage, which may have been utilized to finance growth initiatives.
- Earnings Per Share: EPS experienced a significant rise, indicating higher earnings attributable to shareholders.
Objects of the Issue of Wagons Learning Limited IPO
Meeting Working Capital Requirements
To support the company’s day-to-day operational expenses and ensure smooth business operations.
Repayment or Prepayment of Certain Borrowings
To reduce the company’s debt burden by repaying or prepaying all or a portion of certain outstanding borrowings.
General Corporate Purposes
To fund general corporate activities such as strategic initiatives, expansion plans, and other business development activities.
These objectives are outlined in the company’s Draft Red Herring Prospectus (DRHP) and are aimed at strengthening the company’s financial position and supporting its growth strategies.
Strengths of Wagons Learning Limited IPO
1) Experienced Management Team
- The company is led by seasoned professionals with proven expertise in project management and implementation, providing strategic direction and operational efficiency.
2) Strong Presence in Corporate Training and Solutions
- Wagons Learning has established itself in the corporate training sector, offering a range of services including digital learning platforms, custom content development, and skill development programs.
3) Long-Term Client Relationships and Repeat Business
- The company maintains enduring relationships with its clients, leading to consistent repeat business and a stable revenue stream.
4) Robust Revenue Growth
- The company has demonstrated significant revenue growth over the past years, indicating strong market demand for its services.
5) Certified by National Skill Development Corporation (NSDC)
- Wagons Learning is certified by the NSDC to conduct various skill development programs, enhancing its credibility and expanding its service offerings.
Risks of Wagons Learning Limited IPO
1) Limited Financial History
- As a relatively young company, Wagons Learning has a limited track record, which may pose challenges in assessing its long-term financial stability.
2) Dependency on Key Clients
- A significant portion of the company’s revenue may be derived from a limited number of clients, making it vulnerable to changes in client relationships.
3) Regulatory Compliance Risks
- Operating in the education and training sector requires adherence to various regulatory standards. Non-compliance could lead to legal challenges and reputational damage.
4) Highly Competitive and Fragmented Industry
- The corporate training and edtech industry is highly competitive, with numerous players offering similar services, which could impact the company’s market share and profitability.
5) Aggressive Valuation
- Some analysts have noted that the IPO appears to be aggressively priced based on its financial data, which may affect investor returns.
Wagons Learning Limited IPO Contact Details
Head Office (Pune, Maharashtra)
Address:
Office No. 302, Montreal Business Center, Pallod Farms, Baner, Pune – 411045, Maharashtra, India
📞 Phone: +91 81490 06055
📧 Email: contact@wagonslearning.com
🌐 Website: www.wagonslearning.com
Additional Offices
- Mumbai, Maharashtra
- 1904 Lodha Supremus, Saki Vihar Road, Powai, Mumbai – 400072, Maharashtra, India
- Canada
- 2560 Matheson Blvd. East, Suites 217, 218 & 219, Mississauga, Ontario, Canada
- UAE
- 604, 6th Floor, Bay Square, Building No. 13, Business Bay, Dubai, UAE
Wagons Learning IPO Registrar
- Address: Subramanian Building, 1st Floor, No. 1, Club House Road, Chennai – 600002, India
- Phone: +91-44-28462700
- Fax: +91-44-28460129
- Website: www.wagonslearning.com
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