Start your Trading & Investing Journey with us
Join our channel for Daily Free Trades with Live analysis on Youtube, Trade Setup with Important Levels, and Important Stock Market Updates
Western Overseas IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details
Western Overseas Study Abroad Limited is a student-training and visa-consulting company offering IELTS/PTE coaching, immigration advisory, and overseas admission services. It earns revenue mainly from coaching fees, consultancy charges, and support services for study-abroad applicants. Its services help students prepare for global education requirements and navigate visa processes. The offerings are used by students planning to study or migrate overseas, especially to major English-speaking countries.
Western Overseas, an Book Built Issue, amounting to ₹10.07 Crore,consisting entirely an fresh issue of 0.18 crore shares of ₹10.07 Crore.The subscription period for the Western Overseas IPO opens on December 04, 2025, and closes on December 08, 2025. The allotment is expected to be finalized on or about Tuesday, December 09, 2025., and the shares will be listed on the BSE SME with a tentative listing date set on or about Thursday, December 11, 2025.
The Share Price Band of Western Overseas IPO is set at ₹56 per equity share. The Market Capitalisation of the Western Overseas at IPO price of ₹56 per equity share will be ₹33.67 Crores. The lot size of the IPO is 2000 shares. Retail investors are required to invest a minimum of ₹
224,000, 2 lots ( 4000 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is
3 lots (
6000 shares), amounting to ₹
336,000.
SOBHAGYA CAPITAL OPTIONS PRIVATE LIMITED are the book running lead manager of the Western Overseas Ltd. while SKYLINE FINANCIAL SERVICES PRIVATE LIMITED is the registrar for the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd.
Western Overseas Limited IPO GMP Today
The Grey Market Premium of Western Overseas IPO is expected to be ₹0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.
Western Overseas Limited IPO Live Subscription Status Today: Real-Time Update
As of 10:30 AM on 04 December, 2025, the Western Overseas IPO live subscription status shows that the IPO subscribed 0.02 times on its First Day of subscription period. Check the Western Overseas IPO Live Subscription Status Today at BSE.
Western Overseas Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Western Overseas IPO allotment date is 09 December 2025, Tuesday, Western Overseas IPO Allotment will be out on 09 December 2025, Tuesday.and will be live on Registrar Website from the allotment date.
Check SKYLINE FINANCIAL SERVICES PRIVATE LIMITED IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Western Overseas IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.
Objectives of Western Overseas Limited IPO
Western Overseas to utilise the Net Proceeds towards the following objects:
1. ₹342.52 Lakh is required for To finance Advertisement expenses towards enhancing the awareness and visibility of our brand.
2. ₹300.00 Lakh is required for To finance acquisition and installation of Software.
3. ₹200.00 Lakh is required for Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company.
4. ₹74.36 Lakh is required for To meet General corporate purposes.
Refer to Western Overseas Limited RHP for more details about the Company.
Western Overseas Limited Day Wise IPO GMP Trend
| GMP Date | Issue Price | Expected Listing Price | GMP | Last Updated |
|---|---|---|---|---|
| December 02, 2025 | ₹ 56 | ₹ 56 | ₹0(0.0%) | 02 December 2025; 12:59 PM |
| December 02, 2025 | ₹ 56 | ₹ 56 | ₹0(0.0%) | 04 December 2025; 11:41 AM |
Western Overseas IPO Details
| Market Capitalization | ₹33.67 Cr. |
| IPO Date | December 04, 2025 to December 08, 2025 |
| Listing Date | December 11, 2025 |
| Face Value | ₹10 Per Share |
| Price Band | ₹56 per share |
| Issue Price | ₹56 per share |
| Employee Discount | NA |
| Lot Size | 2000 Equity Shares |
| Total Issue Size | 17,98,000 Equity Shares (aggregating to ₹10.07 Cr) |
| Fresh Issue | 17,98,000 Equity Shares (aggregating to ₹10.07 Cr) |
| Offer for Sale | NA |
| Issue Type | Fixed Price Issue |
| Listing At | BSE SME |
| Share holding pre issue | 42,14,000 |
| Share holding post issue | 60,12,000 |
| Rating | Avoid |
Western Overseas IPO Anchor Investors Details
| Bid Date | N/A |
| Shares Offered | N/A |
| Anchor Portion Size (In Cr.) | N/A |
| Anchor lock-in period end date for 50% shares (30 Days) | N/A |
| Anchor lock-in period end date for remaining shares (90 Days) | N/A |
Western Overseas IPO Timeline (Tentative Schedule)
| IPO Open Date | Thu, Dec 4, 2025 |
| IPO Close Date | Mon, Dec 8, 2025 |
| Basis of Allotment | Tue, Dec 9, 2025 |
| Initiation of Refunds | Wed, Dec 10, 2025 |
| Credit of Shares to Demat | Wed, Dec 10, 2025 |
| Listing Date | Thu, Dec 11, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Dec 8, 2025 |
Western Overseas IPO Reservation
| Investor Category | Shares Offered | Reservation % |
|---|---|---|
| QIB Portion | - | - |
| Non-Institutional Investor Portion | 854,000 | Not less than 50% of the Net Offer |
| Retail Shares Offered | 854,000 | Not less than 50% of the Net Offer |
| Market Maker Portion | 90,000 | - |
Western Overseas IPO Promoter Holding
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 70.09% |
Western Overseas IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹224,000 |
| Retail (Max) | 2 | 4,000 | ₹224,000 |
| S-HNI (Min) | 3 | 6,000 | ₹336,000 |
| S-HNI (Max) | 8 | 16,000 | ₹896,000 |
| B-HNI (Min) | 9 | 18,000 | ₹1,008,000 |
Western Overseas IPO Subscription Status
| Investor Category | Shares Offered | Shares Bid For | No of Times Subscribed | Last Upadeted |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | - | - | 0x | 04 December 2025; 11:42 AM |
| Non Institutional Investors(NIIS) | 944,000 | - | 0.00x | 04 December 2025; 11:42 AM |
| Retail Individual Investors (RIIs) | 854,000 | - | 0.00x | 04 December 2025; 11:42 AM |
| Total | 1,798,000 | - | 0.00x | 04 December 2025; 11:42 AM |
About Western Overseas Limited
Western Overseas Study Abroad Limited is a student-training and visa-consulting company offering IELTS/PTE coaching, immigration advisory, and overseas admission services. It earns revenue mainly from coaching fees, consultancy charges, and support services for study-abroad applicants. Its services help students prepare for global education requirements and navigate visa processes. The offerings are used by students planning to study or migrate overseas, especially to major English-speaking countries.
Key Clients & Major Facilities
The company’s clients are primarily students seeking international admissions, test preparation, and visa support. Major operational facilities include owned and leased coaching centers and offices, including registered premises such as “Label Ganga, 1112 sq ft, Ground Floor, Ambala City” listed as secured property in borrowings . These centers host training rooms, counselling cabins, administrative operations, and digital learning infrastructure supporting coaching and visa-processing activities.
Product Portfolio & Order Execution
Its portfolio includes IELTS/PTE coaching, pre-departure training, student visa assistance, immigration documentation, and admission counselling. These services fall under test-prep and international mobility solutions, supporting clients through the entire application lifecycle. The company does not maintain a traditional order book; instead, revenue flows through continuous enrolments and visa-processing cycles. Execution depends on coaching batches, institutional tie-ups, and successful processing of client applications.
Merger, Expansion & Capex Plans
The company plans to expand its training capacity, upgrade digital platforms, strengthen marketing outreach, and open new coaching centres in high-demand regions. Its strategic initiatives focus on increasing student intake, enhancing brand presence, and partnering with international institutions. Capex is expected to support facility expansion, technology upgrades, and operational efficiency improvements. No merger events are highlighted, but future scalability strategies emphasize organic growth.
Employees & Banker
As of June 30, 2025, the company had 148 employees. The Banker to the Company is ICICI Bank and State Bank of India.
MANAGEMENT & VISION
The management team aims to strengthen Western Overseas’ position as a trusted study-abroad service provider with a focus on test-prep excellence, visa success rates, and global university tie-ups. They target steady growth through centre expansion, aggressive digital marketing, and improved student support. Long-term goals include diversifying into more destination countries and scaling online coaching. Capex and expansion funding are expected to be arranged through internal accruals, IPO proceeds, and improved operating cash flows.
INDUSTRY OVERVIEW
The company operates in the overseas education and language-training industry, which has been expanding due to rising aspirations of Indian students and increasing acceptance in developed countries . Industry growth is supported by global demand for skilled migrants, English-language testing, and international university enrolments. Although the prospectus does not specify numerical industry size, the sector is witnessing strong momentum with thousands of Indian students migrating for higher education annually. Market leaders include global test-prep brands and established visa-consulting networks. Growth outlook remains positive in both India and international markets.
KEY RISK FACTORS
1. Regulatory & Visa Policy Risk
Changes in immigration rules, visa restrictions, or geopolitical tensions can directly affect student approvals, thereby impacting the company’s counselling and visa-processing business. Any tightening of international student policies may reduce demand for its services.
2. High Competition in Coaching & Consultancy
The market includes large national test-prep brands and numerous small regional consultants. Intense competition may lead to pricing pressure, higher marketing costs, and lower student acquisition efficiency, affecting profitability.
3. Dependence on Student Enrolments
Revenue largely depends on continuous enrolment for coaching and visa services. Seasonal variations, exam-related changes, or drop in student interest for foreign education may negatively impact operating performance.
4. Limited Geographic Concentration
A significant portion of operations is concentrated in specific regions. Any regional disruptions, regulatory changes, or local competition may reduce traffic to centres and affect the company’s business volumes.
5. Dependence on Foreign Institutions & Testing Bodies
The company relies on international universities, testing organisations, and immigration authorities. Any changes in partnership terms, exam formats, or acceptance criteria may influence service delivery and student outcomes.
6. Human Resource Dependency
The business requires trained counsellors, faculty, and visa experts. Attrition or difficulty in hiring skilled staff can disrupt coaching quality, client engagement, and documentation efficiency.
KEY STRENGTHS & OPPORTUNITIES
1. Established Brand in Student Mobility
Western Overseas has strong recall in North India for IELTS, PTE, and visa guidance. Its training quality and counselling support give it competitive advantage in attracting students seeking reliable overseas education services.
2. Diverse Service Portfolio
With end-to-end coaching, counselling, and visa processing, the company covers the entire student journey. This integrated model improves cross-selling, enhances revenue visibility, and increases client dependency on its services.
3. Growing Demand for Overseas Education
Rising aspirations, international opportunities, and scholarship access support continuous growth in Indian outbound students. The company is well-positioned to benefit from this long-term structural trend across major destination countries.
4. Expansion Through New Centres
Planned additions of coaching centres and digital-learning capabilities offer a strong opportunity to scale operations. Increased presence in Tier-2 and Tier-3 cities can significantly boost student outreach and revenue.
5. Technology-Driven Training & Processing
Digital test preparation, online counselling, and automated application-tracking systems support efficiency, better student experience, and higher scalability. Technology enhances margins and enables remote service delivery.
6. Strong Visa-Processing Expertise
Deep understanding of documentation, compliance, and country-specific requirements helps maintain high success rates. This operational strength builds trust and gives the company a competitive moat in the consultancy market.
Western Overseas Limited Financial Information (Restated Consolidated)
Amount in (₹ in Lakhs)
| Period Ended | June 30, 2025 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|
| Reserve of Surplus | 285.79 | 231.52 | 446.51 | 328.49 |
| Total Assets | 1,386.80 | 1,268.86 | 1,005.14 | 479.30 |
| Total Borrowings | 462.56 | 409.19 | 330.84 | 47.21 |
| Fixed Assets | 217.21 | 203.21 | 167.56 | 144.60 |
| Cash | 29.71 | 21.51 | 41.22 | 66.67 |
| Cash flow from operating activities | -13.58 | -27.60 | -206.77 | 74.31 |
| Cash flows from investing activities | -22.79 | -18.33 | -81.14 | -82.61 |
| Cash flow from financing activities | 44.57 | 26.22 | 262.47 | 17.83 |
| Net Borrowing | 432.85 | 387.68 | 289.62 | -19.46 |
| Revenue | 496.72 | 2,295.81 | 2,036.67 | 1,020.60 |
| EBITDA | 86.88 | 369.77 | 229.12 | 107.54 |
| PAT | 54.27 | 221.09 | 119.02 | 44.94 |
| PAT Margin | 10.93% | 9.63% | 5.84% | 4.40% |
| EPS | 1.29 | 5.25 | 2.82 | 1.07 |
Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2025 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Issue Data, given in FINANCIAL EXPRESS.
Key Performance Indicator
| KPI | Values |
|---|---|
| EPS Pre IPO (Rs.) | 5.25 |
| EPS Post IPO (Rs.) | 3.68 |
| Adjusted 12M EPS Post IPO (Rs.) | 3.61 |
| P/E Pre IPO | 10.67 |
| P/E Post IPO | 15.23 |
| Adjusted 12M P/E Post IPO | 15.51 |
| ROE | 40.18% |
| ROCE | 37.63% |
| P/BV | 3.62 |
| Debt/Equity | 0.63 |
| RoNW | 33.86% |
| EBITDA Margin | 16.27% |
| PAT Margin | 9.63% |
Western Overseas Limited IPO Peer Comparison
| Company Name | EPS | P/E (x) | ROE | ROCE | P/BV | Debt/Equity | RoNW (%) |
|---|---|---|---|---|---|---|---|
| Western Overseas | 3.68 | 15.23 | 40.18% | 37.63% | 3.62 | 0.63 | 33.86% |
| Winny Immigration & Education Services | -22.97 | -3.09 | - | - | 2.63 | - | -78.48% |
| Landmark Global Learning | 6.37 | 8.24 | 21.1 % | 28.8 % | 1.30 | 0.01 | 15.63% |
Western Overseas Limited Contact Details
Western Overseas Study Abroad Ltd.
Ground Floor- First Floor,
S.C.F No-27-28,
Vikas Vihar,
Ambala, Haryana, 134003
Phone: + 91-171-3500064
Email: info@western-overseas.com
Website: https://western-overseas.com/
Western Overseas IPO Registrar and Lead Manager(s)
Skyline Financial Services Pvt.Ltd.
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
SOBHAGYA CAPITAL OPTIONS PRIVATE LIMITED
Phone: +91-7836066001
Email: cs@sobhagyacap.com
Website: www.sobhagyacap.com
Western Overseas IPO Review
Western Overseas Study Abroad Limited is a student-training and visa-consulting company offering IELTS/PTE coaching, immigration advisory, and overseas admission services. It earns revenue mainly from coaching fees, consultancy charges, and support services for study-abroad applicants. Its services help students prepare for global education requirements and navigate visa processes. The offerings are used by students planning to study or migrate overseas, especially to major English-speaking countries.
The Company is led by Promoter, i.e., MR. PARDEEP BALYAN AND MS. REKHA RANI
The Revenues from operations for the Period ended on Jun 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹
496.72 Lakh, ₹
2,295.81 Lakh, ₹
2,036.67 Lakh, and ₹
1,020.60 Lakh, The EBITDA for the Period ended on Jun 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹
86.88 Lakh, ₹
369.77 Lakh, ₹
229.12 Lakh, and ₹
107.54 Lakh, The Profit after Tax for the Period ended on Jun 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹
54.27 Lakh, ₹
221.09 Lakh, ₹
119.02 Lakh, and ₹
44.94 Lakh, respectively. This indicates a steady growth in financial performance.
The Company Key Performance Indicates the pre-issue EPS of ₹5.25 and post-issue EPS of ₹3.68 for FY25. The pre-issue P/E ratio is 10.67x,while the post-issue P/E ratio is 15.23x against the Industry P/E ratio is NAx The company's ROE for FY25 is 40.18% and RoNW is 33.86% The Annualised EPS is ₹3.61x and P/E is 15.51x. These metrics suggest that the IPO is Fully priced.
The Grey Market Premium (GMP) of Western Overseas showing listing gains of 0%.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Western Overseas Limited IPO for Listing gain or Long Term Purposes.
Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. We also use Artificial Intelligence (AI) tools to enhance the efficiency and quality of our research services, including data retrieval, analysis, and report summarization. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit Legal our website abhayvarn.com
About the Author
CA Abhay Kumar (Also known as CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.





