Arihant Institute Limited aims to open 21 new coaching centres through IPO, targets raising Rs 7.5 crore

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The issue is set to open on 23 May 2018 and will close on 28 May 2018

Bilkulonline.com, Ahmedabad, May 22: Arihant Institute Limited, a company
engaged in educational coaching and guidance for students taking
competitive exams such as chartered accountancy and Company Secretary,
is coming out with its maiden IPO of 25 lakh equity shares with a face
value of Rs 10 each. At a fixed price of Rs 30 per share. The
educational guidance centre is looking at raising a total sum of Rs
7.5 crore, to open new coaching centres across 21 different locations
in India, in addition to other upgradation of technical infrastructure
and corporate office restructuring.

The issue is set to open for subscription on 23 May 2018 and will be
closing on 28 May 2018. The IPO will be listed on the BSE SME platform
with the minimum application being made for a lot size of 4,000 retail
shares. For high networth individuals, the bid lot will be of 8,000
shares and in multiples of 4000 shares thereon.

“Over the past 20 years, Arihant Institute Ltd has been committed to
provide the best quality education in our domain to a wider cross
section of students, at an affordable cost, taking regional factors
into consideration. Our company is a preferred choice to seek
educational coaching for chartered accountancy and company secretary
courses. More than 10,000 students who have benefitted from the
coaching and guidance for professional from our institute bear the
testimony to this,” said Mr Sandip Kamdar, one of the promoters of the
company.

“More than 2,000 chartered accountants and more than 175 company
secretaries have cleared their professional exams under our coaching
and out of these 205 students have secured national rank in their
professional exams” Mr Kamdar further said.

Sharing future plans, Mr Kamdar also talked about offering more
courses. “Going forward, we also plan to offer publication, vocational
training along with placement services. Arihant aims at setting up its
new centres in Gujarat, Rajasthan, Mumbai and Thane. That apart, we
will also focus on building technical infrastructure, branding and
marketing, corporate office restructuring and managing corporate
funds,” said Kamdar.

The promoters and group will hold 57.85% of equity shares of the post
issue paid-up equity share capital of the company. Ahmedabad Based
Merchant Banker Monarch Networth Capital Ltd is a lead manager of this
public issue and Karvy Computer share Private Limited Ltd is a
registrar.