Winny Immigration IPO: Visa consultancy firm Winny Immigration and Education Services is set to launch its initial public offering (IPO) on June 20 with an aim to raise over ₹9 crore from the primary market. Winny Immigration IPO is an SME IPO and a fixed price issue.
Winny Immigration IPO price band has been set at ₹140 per share. The IPO size is ₹9.13 crore, which is entirely a fresh issue of 6.52 lakh equity shares.
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The IPO lot size is 1,000 shares and the minimum investment amount required by retail investors is ₹140,000.
Winny Immigration IPO will open for subscription on Thursday, June 20, and close on Monday, June 24. The IPO allotment is expected to be finalized on June 25, and the equity shares of Winny Immigration IPO will be listed on NSE SME with a tentative listing date as June 27.
The company will credit the shares into the demat accounts of eligible bidders on June 26 and initiate refunds to the unsuccessful bidders on the same day.
The company proposes to use the net issue proceeds for opening new offices in India, software development, repayment of debt, branding and advertisement and general corporate purposes.
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Interactive Financial Services Ltd is the book running lead manager of the Winny Immigration and Education Services IPO, while Bigshare Services Pvt Ltd is the IPO registrar.
Jignesh Patel is the promoter of Winny Immigration and Education Services. The promoter shareholding will reduce to 58.51% after the IPO from 83.63% at present.
The company is involved in the visa consultancy business and provides assistance to individuals for study, travel, business, work and migration purposes.
Winny Immigration and Education Services reported a net profit of ₹39.27 lakh upon a revenue of ₹11.02 crore in FY24. It had posted a net profit of ₹1.44 crore and a revenue of ₹11.97 crore in FY23.
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Winny Immigration IPO GMP
Winny Immigration IPO GMP today, or grey market premium today, is ₹49 per share, according to stock market observers. This indicates that the equity shares of Winny Immigration and Education Services are trading at ₹189 apiece in the grey market, a premium of 35% to the IPO price of ₹140 per share.
