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PNN
Mumbai (Maharashtra) [India], June 17: Ahmedabad-based Winny Immigration and Education Services Ltd engaged in visa consultancy and immigration services is planning to raise up to Rs 9.13 crore from its SME public issue. The company has received approval to launch its public issue on NSE Emerge Platform of the National Stock Exchange. The public issue open for subscription on June 20 and closes on June 24. The Proceeds of the public issue will be used for business expansion including opening new offices, software development, repayment of debt, Branding and Advertising and general corporate purposes. Interactive Financial Services Ltd is the lead manager of the issue. Company to issue 6.52 lakh Equity shares of Rs 10 face value at Rs 140 per share; To list NSE EMERGE Platform of NSE The initial public offering of Rs 9.13 crore comprises of a fresh issue of 6.52 lakh equity shares of face value Rs 10 each at Rs 140 per share. Out of the fresh issue of Rs 9.13 crore, company plans to utilize Rs 2.88 crore towards software development, Rs 97 lakh towards opening offices across India, Rs 1.59 crore for repayment of Debt, Rs 1 crore for branding and advertising, Rs 1.99 crore towards general corporate purpose. Minimum lot size for the application is 1000 shares which translates in to investment of Rs 1.40 lakh per application. Retail investor quota for the IPO is kept at 50% of the net offer. Promoter holding pre issue stands at 83.63% which post issue will be 58.51%. Jignesh Patel, Director, Winny Immigration and Education Services Ltd, said, "Winny Immigration aspires to stand as the foremost visa consulting firm globally, renowned for its expertise, ethics, and steadfast commitment to client success. The first plan is to develop an in-house, complete digital consultation and service delivery module to enhance the accessibility and efficiency of services. For this, the company has recently implemented AI-based automation in their operations and service delivery methods, which has led to a notable enhancement in service timelines. Moreover, they are actively working on the development of an AI-based web portal and a mobile application to provide all solutions on a single platform. The company is also actively working on expanding its presence in the Middle East and other South Asian markets." Incorporated in 2008, Winny Immigration and Education Services Ltd. is primarily involved in the visa consultancy business. The company assists individuals for study, travel, work, business, and migration purposes. The company has assisted thousands of clients with immigration and visa processes, providing visa consultancy. The company has 12 offices in Gujarat, Maharashtra, and Delhi, including branches, franchisees, and a virtual office in Canada. Winny offers visa guidance, immigration assistance, and documentation services. The company provides consultations for the following services: 1. Training for Language Proficiency Examinations, 2. Consulting and processing a variety of Temporary Residence Visas, 3. Consulting and processing Permanent Residency Visas. For FY23-24 ended March 2024, company has reported net profit of Rs 39.27 lakh and revenue of Rs 11.02 crore as compared to profitability and revenue of Rs 1.45 crore and Rs 11.97 crore for 12 months of FY22-23. As on 31st March 2024, Net Worth of the company was reported at Rs 2.30 crore, Reserves & Surplus at Rs 79 lakh and Asset base of Rs 5.43 crore. As on 31st March 2024, ROE of the company was at 18.6%, ROCE at 15.74% and RONW at 17.02%. Shares of the company will be listed on NSE's Emerge platform. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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