This Issue has been graded by CRISIL Limited as 4/5, indicating that the fundamentals of the Issue are above average relative to other listed equity securities in India. The IPO grade is assigned on a five-point scale from 1 to 5, with IPO grade 5/5 indicating strong fundamentals and IPO grade 1/5 indicating poor fundamentals.
OBJECT OF ISSUE
The Issue consists of the Fresh Issue by our Company and the Offer for Sale by the Selling Shareholder.
Offer for Sale
Our Company will not receive any proceeds from the Offer for Sale by the Selling Shareholder.
The proceeds of the Issue, after deducting the proceeds of the Offer for Sale and Issue related expenses (the _gNet
Proceeds_h), are estimated to be approximately Rs. [*] lakhs.
The Net Proceeds are proposed to be utilised by our Company for the following objects:
(a) Part financing the cost of construction of a PUC campus in Karnataka, which includes the cost of
acquisition of land;
(b) Establishing new Coaching Centres at 20 locations; and
(c) General corporate purposes.
The main objects clause and objects incidental and ancillary to the main objects set out in our Memorandum of
Association enable us to undertake our existing activities and the activities for which the funds are being raised
through this Fresh Issue. Further, we confirm that the activities undertaken by our Company until now have been in
accordance with the objects clause of our Memorandum of Association.