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Thursday, March 29, 2012

IPO Information - MT EDUCARE LIMITED

IPO information of MT EDUCARE LIMITED initial public offering and CRISIL rating for it.

MT EDUCARE LIMITED:
Incorporated in 2006, MT Educare Limited is an education support and coaching services provider for students in the secondary and higher secondary school. Also they provide coaching services for students pursuing graduation degree in commerce, preparing for various competitive examinations and undertaking chartered accountancy examinations.


MT Educare mainly provides coaching services for classes 9 and 10 (State board, CBSE and ICSE), classes 11 and 12, graduation (commerce), entrance test preparatory courses (engineering, medical through MH-CET and MBA) and CA. As on today, company has 757 faculty members on rolls. The brand name under which coaching operations of company operated is "Mahesh Tutorials". Company had coached around 58,300 students in FY11 which is a jump of 11% on a year on year basis.
The company also operates pre-schools under the brand name Global Champs with 7 centers operated by the company in Mumbai and Pune.

IPO information
Issue Open: March 27, 2012
Issue close: March 29, 2012
Price Band: Rs. 74 - Rs. 80 Per Equity Share
Minimum Bid Size: 80 Equity Shares
Face Value: Rs. 10 Per Equity Share
Issue Type: 100% Book Building
Maximum Subscription Amount for Retail Investor: Rs. 200000

IPO Grading / Rating:
CRISIL has assigned an IPO Grade 4 to MT Educare Limited IPO. This means as per CRISIL, company has 'Above Average Fundamentals'.

IPO Analysis
MT Educare's market cap is Rs 292-316 Cr on a price band of Rs 74-80. At price band of IPO, stock valuation comes at 19.5-21 times its FY12 estimated EPS of Rs 3.8. After IPO, Price/Book Value ratio will be 3.2-3.5 times its Book Value of Rs 23.

Investors willing to take risk may buy IPO of MT Educare as it is in education industry and industry has strong outlook.

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