Mumbai, March 28, 2019: Delhi based Humming Bird Education Limited (HBEL), engaged in the business of conducting quality Olympiads and providing high priority services to large number of Schools & Students, today became 291st company to get listed on BSE SME, India’s largest SME platform. The stock which listed at Rs 132 a share surged nearly 5% to Rs 138.55 during the intraday trade. The IPO comprising of 1, 63,000 Equity Shares successfully closed on 19 March 2019 and was oversubscribed 1.35 times. The Company raised Rs 2.15 crores through the IPO which will be utilized towards working capital requirements and general corporate purposes.
Mr. Nitesh Jain, Managing Director, Humming Bird Education Limited, said “Getting a company listed is a significant milestone for an entrepreneurial journey. We at HBEL are proud and delighted to have our company listed on the SME platform of Bombay Stock Exchange. We began our journey in 2010 and in less than a decade HBEL has established itself as a strong global brand in the academic and education space, well known for conducting quality Olympiads and inculcating academic perfection among the students. We have over 1000 schools, 2.5 lakh students and 21 franchise offices globally.”
Lead Manager to the issue Mr Abhinav Gupta, President, Share India Capital Service said” “We are pleased with the strong interest and enthusiasm around the IPO of HBEL, which is a reflection of the investors’ confidence in the fundamentally strong companies in the SME – Primary Markets space. Humming Bird Education with its unique asset light business model is the first and only listed Company rendering quality Olympiad exam services and providing scientifically designed study material & performance analysis reports to its students and clients in over 12 countries. We really enjoyed working on the mandate and would like to thank all the investors for their trust and support for making HBEL IPO and listing successful”
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”.