Humming Bird Education IPO Opens on March 15

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.

Source : Equity Bulls

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