Winny Immigration IPO

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20th – 24th Jun 2024
27 Jun 2024
₹140 – ₹140
1000 shares (₹140000)
9cr

Schedule

Issue open date 20 Jun 2024
Issue close date 24 Jun 2024
UPI mandate deadline 24 Jun 2024 (5 PM)
Allotment finalization 25 Jun 2024
Refund initiation 26 Jun 2024
Share credit 26 Jun 2024
Listing date 27 Jun 2024
Mandate end date 09 Jul 2024
Lock-in end date for anchor investors (50%) 25 Jul 2024
Lock-in end date for anchor investors (remaining) 23 Sep 2024

About

Incorporated in 2008, Winny Immigration is mainly in the visa consultancy business. The company assists (Service) individuals for study, travel, work, business, and migration purposes. The Company’s primary objective is to streamline the visa application process for its clients by providing consultancies in the below-stated range of services:

  • Training for Language Proficiency Examinations
  • Consulting and processing a range of Temporary Residence Visas
  • Consulting and processing Permanent Residency Visas
Funds Raised in the IPO Amount
Overall ₹9.13 crores
Fresh Issue ₹9.13 crores
Offer for sale

Financial Snapshot

Financial Year Ended March 2022 March 2023 March 2024
Total Assets 2.76 5.42 5.43
Revenue 10.04 11.98 11.02
Profit After Tax 0.39 1.45 1.28
EPS 2.59 9.53 8.41

*All figures except EPS are in ₹ Crores

Risk factors

  • Heavy reliance on Canadian Immigration: The company exhibits a significant reliance on revenue from Canadian Immigration services, with 90% in FY 2021-22, 82% in FY 2022-23, and 39.00% in FY 2023-24 originating from services provided to individuals seeking to immigrate to Canada. This dependency exposes the company to potential impacts from regulatory shifts and policies implemented by the Canadian government.
  • Promoter-associated risks: The company’s promoter has a history of delayed payments on property loans and credit cards.

Note:

  • The above schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion.
  • The allotment status will be available by June 26, 2024, on the Registrar’s website and the NSE website.