Humming Bird Education
Limited (HBEL), engaged in the business of conducting quality Olympiads and providing
high priority services such as scientifically designed study material, free
mobile apps, performance analysis reports to large number of Schools &
Students, will launch its initial public offer on the BSE SME platform on 15
March 2019.
The Issue comprises
1, 63,000 Equity Shares of face value of Rs.10.00 each at a cash price of
Rs.132.00 per Equity Share, aggregating up-to Rs. 215.16 lakhs. The proceeds
from IPO will be utilized towards working capital requirements, general
corporate and the issue expenses purposes. The Issue will close on 19 March
2019.
Share India Capital Services Private Limited is the
lead manger to the issue and Bigshare Services Private Limited is the registrar
to the public offer.
Mr. Nitesh Jain, Managing
Director, Humming Bird Education Limited, said “HBEL has over 1000 schools, 2.5
lakh students and 21 franchise offices globally. “Humming Bird” is a strong global
brand in the academic and education space. The brand is strongly associated
with conducting quality Olympiads and is able to deepen client relationships
through strong brand recognition. We are dedicated to inculcate academic perfection among the students with the
right attitude by enhancing their factual, conceptual, reasoning, logical, and
analytical and problem solving skills through the perfect blend of six
ingredients IQ, AQ, EQ, CQ, and SQ & HQ”.
Lead Manager to the
issue Mr Abhinav Gupta, President, Share India Capital Service said” HBEL
with its asset light business model has huge potential for growth. The Company
outsources a majority of its non-core auxiliary operations, allowing them to
function without considerable investment in a fixed asset base and providing
enormous operating leverage when scaling operations. All their orders are
received in advance which enable the company to streamline its cash flows and
function with minimal working capital. The asset light model and centrally
managed operations, which helped HBEL build a vast franchisee network spread across
intercontinental boundaries, is expected to further strengthen its
international base and maintain healthy pace of growth”
For the Fiscal years
ended on March 31, 2018, March 31, 2017, and March 31, 2016 the company’s gross
revenues stood at Rs. 117.09 Lakhs, Rs. 93.70 Lakhs and Rs. 51.56 Lakhs
respectively. Further, the company’s PAT for the Fiscal years ended on March
31, 2018, March 31, 2017, and March 31, 2016 stood at Rs. 10.57 Lakhs, Rs. 4.46
Lakhs and Rs. 0.78 Lakhs respectively.
The Company which was established
by Mr. Nitesh Jain, Founder and Promoter in August 2010, has served thousands
of schools encompassing lakhs of students with the Olympiad examinations. The Company
has been awarded with “Asia’s Greatest
Brands of Year 2017-18” by “Price Water House Coopers P.L.” Mr. Nitesh Jain
has also been awarded with Asia’s
Greatest Leaders of Year 2017-18”. An International Level Olympiad is a
rigorous competitive examination where students are evaluated on a
scientifically constructed syllabus and their academic performance is ranked
relative to their peer group. Humming Bird’s examinations use a multifaceted
approach in judging students on their in-depth knowledge of the subjects as
well as on enhance their factual, conceptual, reasoning, logical, analytical
and problem solving skills, helping them better understand their strengths and
weaknesses further enabling them to convert their Olympiad results into
superior scholastic gains and realize their true intellectual potential. As an
added advantage this has also given an opportunity for schools to analyze the
performance and prowess of their teachers with the help of deep insight
provided by our Olympiads.
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