Company Profile
Wagons Learning Limited, founded in 2013, provides corporate training, e-learning development, and learning management system (LMS) services. Based in Pune, India, it has trained over a million individuals and completed more than 1,400 e-learning projects. The company serves a wide range of industries by offering customized educational solutions and employs a large network of trainers across the country.
- Issue Type: Book-built issue (SME platform)
- Issue Size: ₹38.38 crore
- Price Range: ₹78 to ₹82 per share
- Lot Size: 1,600 shares
- Minimum Investment: ₹131,200
- Shares on Offer: 4,680,000 equity shares
- Fresh Issue: 3,080,000 shares
- Offer for Sale (OFS): 1,600,000 shares
- Market Maker Quota: 235,200 shares
- Stock Exchange: BSE SME Platform
- ISIN: INE0VEM01013
- BSE Script Code: WAGONSLEAR
Key Dates
- IPO Opening Date: May 2, 2025
- IPO Closing Date: May 6, 2025
- Allotment Date: May 7, 2025
- Listing Date: May 9, 2025
Use of IPO Funds
The capital raised through the IPO will primarily be used for:
- Working capital needs
- Repayment or early payment of company borrowings
- General corporate expenses
Company Overview
Foundation:
- Established in 2013
- Headquartered in Pune, Maharashtra, India
Business Focus:
Wagons Learning Limited specializes in providing corporate training solutions, e-learning content development, and learning management systems (LMS). Their services are customized to meet the training and development needs of businesses across various sectors.
Key Services:
- Instructor-led Training (ILT): Conducting live, in-person and virtual training programs.
- E-learning Development: Creating digital training modules, interactive learning content, and gamified learning solutions.
- Learning Management Systems (LMS): Offering platforms for companies to manage, track, and deliver educational courses or training programs.
Strengths:
- Extensive Reach: Over 1 million individuals trained.
- Project Experience: Successfully delivered 1,400+ e-learning projects.
- Trainer Network: Collaborates with more than 1,800 professional trainers across India.
- Client Base: Services a broad range of industries including IT, BFSI (Banking, Financial Services, Insurance), manufacturing, and retail.
Leadership:
- Key Promoters: Uday Jagannath Shetty and Raviraj Poojary.
- The leadership team has significant expertise in the corporate learning and human resource development sector.
Vision:
To be a trusted partner in transforming workforce skills through innovative, technology-driven learning solutions.
Mission:
To deliver measurable learning impact through customized training programs and advanced digital learning technologies.
Core Values:
- Customer-centric approach
- Innovation and creativity in learning solutions
- Commitment to quality
- Continuous improvement
Recent Development:
Launch of an Initial Public Offering (IPO) to raise funds for business expansion, working capital, and debt repayment.
Product Portfolio
Wagons Learning Limited offers a comprehensive range of training and learning solutions, mainly aimed at corporate clients. Their portfolio covers instructor-led programs, digital learning content, and technology platforms for managing training activities.
Main Products and Services
1. Instructor-Led Training (ILT)
- In-person and Virtual Training Sessions: Focused on building technical skills, leadership, management capabilities, and soft skills.
- Customized Workshops: Tailored programs designed according to the client’s industry, business goals, and employee needs.
- Certification Programs: Specialized training for certifications in areas like project management, sales excellence, and more.
2. E-Learning Development
- Custom E-Learning Modules: Interactive, engaging online courses designed for easy learning and retention.
- Microlearning Solutions: Short, focused learning modules that deliver quick knowledge bites, ideal for busy professionals.
- Gamified Learning Content: Game-based modules that improve engagement and motivation among learners.
- Scenario-Based Learning: Real-life case studies and scenarios used in training to make learning more practical and immersive.
- Mobile Learning Solutions: Content optimized for smartphones and tablets, enabling on-the-go learning.
3. Learning Management System (LMS)
- Cloud-Based LMS Platforms: End-to-end solutions for administering, tracking, and reporting on training programs.
- Customizable Dashboards: Personalized interfaces for both learners and administrators.
- Analytics and Reporting Tools: Helps organizations track learning progress, performance, and ROI on training investments.
4. Corporate Training Consulting
- Training Needs Analysis (TNA): Evaluating company-specific training requirements.
- Learning Strategy Development: Helping organizations design full-fledged learning and development (L&D) strategies aligned with business goals.
- Change Management Programs: Supporting organizations through change via structured learning interventions.
📊 Financial Snapshot (as of March 31, 2024)
Revenue and Profitability
- Revenue from Operations: ₹33.51 crore
- Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA): ₹7.17 crore
- Net Profit (Profit After Tax – PAT): ₹5.24 crore
Financial Position
- Total Assets: ₹11.33 crore
- Equity Share Capital: ₹12.52 crore
- Total Borrowings: ₹2.33 crore
Cash Flow Overview
- Cash Flow from Operating Activities: ₹5.27 crore
- Cash Flow from Investing Activities: ₹3.13 crore
- Cash Flow from Financing Activities: ₹2.33 crore
- Net Increase in Cash and Cash Equivalents: ₹1.77 crore
Key Performance Ratios
- Return on Equity (ROE): 60.80%
- Revenue Growth (Year-over-Year): 107%
- EBITDA Growth: 584%
- Net Profit Growth: 610%
Initial Public Offering (IPO) Plans
Kenrik Industries Limited is preparing to launch its Initial Public Offering (IPO) with the goal of raising capital to fund its growth initiatives. The company is offering equity shares to the public as part of its move to be listed on the stock exchange.
IPO Details:
Wagons Learning Limited is launching an IPO to raise funds aimed at:
- Strengthening working capital to support business expansion and project execution.
- Repaying or prepaying certain company borrowings to reduce debt and improve financial stability.
- General corporate purposes, including investment in technology and expanding service offerings.
IPO Structure
- Type of Issue: Book-built issue listed on the BSE SME platform.
- Total Issue Size: ₹38.38 crore.
- Fresh Issue: 3,080,000 equity shares.
- Offer for Sale (OFS): 1,600,000 equity shares offered by promoters.
- Price Band: ₹78 to ₹82 per equity share.
- Minimum Lot Size: 1,600 shares per application.
- Minimum Investment: ₹131,200 for retail investors.
Key Dates
- Opening Date: May 2, 2025
- Closing Date: May 6, 2025
- Allotment Finalization: May 7, 2025
- Listing on BSE SME: May 9, 2025
Promoters’ Offer for Sale
The promoters, Uday Jagannath Shetty and Raviraj Poojary, will be selling part of their stake through the offer for sale component, helping diversify the company’s shareholding base.
Post-IPO Impact
- Strengthened balance sheet through capital infusion.
- Improved brand visibility and market credibility.
- Greater financial flexibility to pursue new business opportunities and partnerships.
Objectives of the IPO:
Important Dates:
- Basis of Allotment: May 7, 2025
- Refund Initiation: May 8, 2025
- Credit of Shares: May 8, 2025
- Listing Date: May 9, 2025
Other IPO Details:
Market Maker: MNM Stock Broking Pvt. Ltd.
Registrar to the Issue: Skyline Financial Services Pvt. Ltd.
Lead Manager: Turnaround Corporate Advisors Pvt. Ltd.
Key IPO Details:
- IPO Type: SME IPO (Book Built Issue)
- Exchange: NSE EMERGE
- Issue Size: ₹33.99 crore (Fresh Issue + Offer for Sale)
- Fresh Issue: 52.6 lakh equity shares (₹30.5 crore)
- Offer for Sale: 6 lakh equity shares (₹3.48 crore)
- Price Band: ₹55 to ₹58 per share
- Face Value: ₹10 per share
- Lot Size: 2,000 shares
- Minimum Investment: ₹1,16,000
- Retail Quota: 40% of the issue
- IPO Open Date: April 29, 2025
- IPO Close Date: May 2, 2025
- Allotment Finalization: May 5, 2025
- Refunds Initiation: May 6, 2025
- Shares Credited to Demat: May 6, 2025
- Listing Date: May 7, 2025
- Registrar: Bigshare Services Pvt Ltd
- Lead Manager: Unistone Capital Pvt Ltd
Important Dates:
- IPO Open Date: April 29, 2025
- IPO Close Date: May 2, 2025
- Allotment Finalization Date: May 5, 2025
- Refunds Initiation Date: May 6, 2025
- Shares Credited to Demat Accounts: May 6, 2025
- Listing Date: May 7, 2025
IPO Objectives:
1. Working Capital Requirements
- The company plans to use a major portion of the raised funds to meet its day-to-day operational needs.
- This includes financing client projects, scaling up business operations, supporting expansion into new markets, and handling increased demand for their training and e-learning services.
2. Repayment or Prepayment of Borrowings
- A portion of the proceeds will go toward repaying existing loans.
- Reducing debt will improve the company’s financial health by lowering interest costs, enhancing creditworthiness, and strengthening the balance sheet.
3. General Corporate Purposes
Hiring skilled professionals and enhancing infrastructure to support future growth.
Funds will also be allocated for broader business activities such as:
Investing in technology upgrades (for better learning platforms and content development).
Expanding service offerings and geographic presence.
Building brand visibility through marketing and promotional activities.
Regulatory Compliance Highlights
1. SEBI (Securities and Exchange Board of India) Compliance
- The company has filed a Draft Red Herring Prospectus (DRHP) with SEBI, adhering to all disclosure and transparency norms required for SME IPOs.
- Full compliance with SEBI regulations regarding capital raising, corporate governance, and investor protection has been maintained.
2. Stock Exchange Approval
- Wagons Learning Limited has obtained in-principle approval for listing its equity shares on the BSE SME Platform.
- All requirements for listing, including minimum public shareholding norms and due diligence documentation, have been fulfilled.
3. Registrar of Companies (ROC) Compliance
- The company is registered with the Registrar of Companies (RoC), Maharashtra.
- It complies with the Companies Act, 2013, including annual filings, disclosures of financial results, and statutory record maintenance.
4. Corporate Governance Practices
- Adoption of proper corporate governance structures is in place.
- This includes setting up key committees like:
- Audit Committee
- Nomination and Remuneration Committee
- Stakeholders Relationship Committee
- Internal controls and policies have been implemented to ensure transparency and accountability.
5. Tax and Financial Regulatory Compliance
- Wagons Learning maintains regular compliance with Income Tax, Goods and Services Tax (GST), and other financial regulatory requirements.
- Audited financial statements have been prepared in accordance with applicable Indian Accounting Standards (Ind AS).
6. Risk Disclosures
The company has clearly disclosed potential business, market, and financial risks in its DRHP, in line with SEBI and BSE guidelines, ensuring full transparency for investors.
Future Outlook
1. Expansion of Service Offerings
Wagons Learning plans to broaden its portfolio by introducing new training programs and digital learning solutions. This expansion aims to address the evolving needs of industries such as IT, BFSI, healthcare, and manufacturing, thereby enhancing its market presence.
2. Technological Advancements
The company is investing in cutting-edge technologies to upgrade its Learning Management System (LMS) and Learning Experience Platform (LXP). These enhancements will facilitate more interactive and personalized learning experiences, catering to the diverse requirements of its clientele.
3. Geographical Expansion
Wagons Learning intends to extend its reach beyond its current operational areas by establishing a stronger presence in untapped regions. This geographical diversification will enable the company to tap into new markets and increase its customer base.
4. Strategic Partnerships
The company is actively seeking collaborations with academic institutions, industry associations, and corporate entities. These partnerships aim to co-create specialized training modules and certifications, thereby enhancing the company’s credibility and expanding its influence in the corporate training sector.
5. Focus on Skill Development Initiatives
Aligned with national skill development objectives, Wagons Learning is committed to contributing to the upskilling of the workforce. By offering programs that bridge skill gaps, the company aims to play a pivotal role in enhancing employability and productivity across various sectors.
Market Positioning and Growth Prospects
Industry Leadership
- The company is recognized as one of the top providers of corporate learning solutions in India, specializing in e-learning development, learning management systems (LMS), and instructor-led training.
- Diverse Client Base: Wagons Learning serves a broad range of sectors, including IT, BFSI, Pharma, Manufacturing, and Telecom, with a reputation for offering customized training solutions that align with industry-specific demands.
Technological Edge
- Wagons Learning integrates advanced technologies such as its Learning Experience Platform (LXP) and Learning Management System (LMS) to provide cutting-edge training delivery, learner tracking, and content management.
- Their digital transformation approach sets them apart in a competitive market, ensuring a high-quality, interactive learning experience for users.
Extensive Network and Reach
1,800+ trainers across India and over 1 million professionals trained reflect the company’s wide-reaching influence and impact in the corporate training space.
Growth Prospects – Wagons Learning Limited
Increasing Market Demand
- The Indian corporate training market is experiencing strong growth, driven by factors such as the rapid adoption of technology, a young workforce, and a significant focus on upskilling and reskilling.
- Industries like IT, banking, and telecommunications are seeing rising demand for training programs aimed at digital transformation, leadership development, and soft skills enhancement.
Financial Performance and Growth
- In recent years, the company has demonstrated rapid growth, particularly in the areas of revenue and profitability, with a significant increase in its financial metrics.
- Their ability to scale quickly and attract new clients indicates strong financial health and sustainability for continued success.
Expansion and Innovation
- Service Expansion: Wagons Learning is committed to expanding its training offerings, including introducing new technologies, programs, and customized solutions tailored to evolving industry needs.
- Geographical Reach: The company plans to expand its presence beyond its existing locations, tapping into new regions to attract a broader audience and increase its client base.
- Technological Investment: Significant investments in AI and machine learning to deliver personalized learning experiences will enhance the company’s competitive position in the market.
Strategic Partnerships
Wagons Learning seeks to establish strategic partnerships with major corporates, educational institutions, and global training providers to co-develop training solutions and increase its market share.
