In recent years, India’s education-focused businesses have seen steady demand as more students aspire to study and work abroad. Riding this trend, Western Overseas Study Abroad Limited is coming out with its IPO in December 2025, giving investors a chance to participate in the growth of a company operating in the overseas education and immigration advisory space.
Here is a detailed look at Western Overseas Study Abroad, its IPO structure, and key financials.
About Western Overseas Study Abroad Ltd.
Incorporated in 2013, Western Overseas Study Abroad Limited is engaged in providing:
- Educational and immigration advisory services
- Visa guidance for study, tourist, business and permanent residency
- Language training for English proficiency tests and foreign languages
The company positions itself as a one-stop solution for students from Punjab, Chandigarh, Haryana, Delhi and Madhya Pradesh, supporting them through the entire journey of studying or settling abroad.
Key services include:
- Coaching and training for IELTS, TOEFL, PTE, CELPIP, Duolingo, LanguageCert, and foreign languages like French, German and Spanish
- Education consultancy for course and university selection
- Loan guidance and scholarship assistance
- Visa services for study, tourist, work, business and permanent residency
- Career support to help students build skills and professional pathways
Western Overseas operates through 12 branches and 1 back-end office, with dedicated training classrooms and consultant desks to provide personalised support.
Promoters:
- Mr. Pardeep Balyan
- Ms. Rekha Rani
As of the latest reported period, the company focuses on tech-enabled operations, custom guidance and transparent processes as its key strengths.
Western Overseas Study Abroad IPO Details
The Western Overseas Study Abroad IPO is a fixed price issue aggregating to ₹10.07 crore, entirely by way of fresh issue. The shares will be listed on the BSE SME platform.
Important IPO Timeline
| Event | Date (Tentative) |
| IPO Open Date | December 4, 2025 (Thu) |
| IPO Close Date | December 8, 2025 (Mon) |
| Tentative Allotment | December 9, 2025 (Tue) |
| Initiation of Refunds | December 10, 2025 (Wed) |
| Credit of Shares to Demat | December 10, 2025 (Wed) |
| Tentative Listing Date | December 11, 2025 (Thu) |
| Cut off time for UPI mandate confirmation | 5 PM on December 8, 2025 |
Key IPO Details
| Parameter | Details |
| IPO Type | Fixed Price IPO |
| IPO Size | ₹10.07 crore |
| Fresh Issue | 17,98,000 shares (₹10.07 Cr) |
| Face Value | ₹10 per share |
| Issue Price | ₹56 per share |
| Lot Size | 2,000 shares |
| Net Issue to Public | 17,08,000 shares (₹9.56 Cr) |
| Market Maker Reservation | 90,000 shares (₹0.5040 Cr) – Giriraj Stock Broking Pvt. Ltd. |
| Issue Structure | Fresh Capital only |
| Listing | BSE SME |
| Lead Manager | Sobhagya Capital Options Pvt. Ltd. |
| Registrar | Skyline Financial Services Pvt. Ltd. |
| Pre Issue Shareholding | 42,14,000 shares |
| Post Issue Shareholding | 60,12,000 shares |
Western Overseas Study Abroad IPO Reservation
Total shares in the issue are 17,98,000. The allocation is as follows:
| Investor Category | Shares Offered | % of Issue |
| Market Maker | 90,000 | 5.01% |
| NII (HNI) | 8,54,000 | 47.50% |
| Retail (RII) | 8,54,000 | 47.50% |
| Total | 17,98,000 | 100.00% |
Lot Size of Western Overseas Study Abroad IPO
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereafter.
| Application Category | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 4,000 | ₹2,24,000 |
| Individual investors (Retail) (Max) | 2 | 4,000 | ₹2,24,000 |
| HNI (Min) | 3 | 6,000 | ₹3,36,000 |
Western Overseas Study Abroad Ltd. Financials
Western Overseas has reported growth in both revenue and profitability in recent years. Revenue increased by 13% and PAT rose by 86% between FY 2024 and FY 2025.
Key Company Financials (Restated, ₹ Crore)
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 13.87 | 12.69 | 10.05 | 4.79 |
| Total Income | 4.97 | 22.96 | 20.37 | 10.21 |
| Profit After Tax | 0.54 | 2.21 | 1.19 | 0.45 |
| EBITDA | 0.87 | 3.70 | 2.29 | 1.08 |
| Net Worth | 7.07 | 6.53 | 4.48 | 3.28 |
| Reserves and Surplus | 2.86 | 2.32 | 4.47 | 3.27 |
| Total Borrowing | 4.63 | 4.09 | 3.31 | 0.47 |
Key Performance Indicators (as of March 31, 2025)
| KPI | Value |
| ROE | 40.18% |
| ROCE | 37.63% |
| Debt to Equity | 0.63 |
| RoNW | 33.86% |
| PAT Margin | 9.73% |
| EBITDA Margin | 16.27% |
| Price to Book Value | 3.62 |
| Market Capitalisation (at issue price) | ₹33.67 Cr |
EPS and Valuation:
| Metric | Pre IPO | Post IPO |
| EPS (₹) | 5.25 | 3.61 |
| P E (x) | 10.67 | 15.51 |
Promoter Holding:
| Pre Issue | Post Issue | |
| Promoter Holding | 100.00% | 70.09% |
Promoters are Mr. Pardeep Balyan and Ms. Rekha Rani.
Objects of the Issue
Western Overseas Study Abroad proposes to utilise the net proceeds from the IPO for the following purposes:
| S. No. | Object of the Issue | Expected Amount (₹ in Crore) |
| 1 | Advertisement expenses to enhance brand awareness and visibility | 3.43 |
| 2 | Acquisition and installation of software | 3.00 |
| 3 | Prepayment or repayment of certain outstanding borrowings | 2.00 |
| 4 | General corporate purposes | 0.74 |
Western Overseas Study Abroad: Industry Outlook
- Rising overseas education demand: More Indian students are targeting higher education and work opportunities abroad, which supports sustained demand for counselling, test prep and visa services.
- Shift to organised players: Regulatory changes, complex visa norms and documentation are pushing students towards organised, compliant advisory firms rather than informal agents.
- Test preparation and language skills: Standardised tests like IELTS, PTE and TOEFL remain critical for admission and visa eligibility, creating recurring demand for coaching and training.
- Digital delivery: Wider acceptance of online counselling, remote test prep and digital documentation allows such companies to scale operations beyond physical branch locations.
Western Overseas’ integrated service model, regional presence in North and Central India, and focus on training plus consultancy positions it to benefit from these trends.
Western Overseas Study Abroad IPO: Peer Comparison
Western Overseas Study Abroad IPO can be compared with peers like Study Abroad Life, Overseas Education Consultancy, Manya Education, KC Overseas Education, and Edwise International. Exploring these companies allows investors to understand Western Overseas’ position within the education and immigration consultancy ecosystem and evaluate how it stands against established players in training, test preparation, and international student services.
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Conclusion
Western Overseas Study Abroad Ltd. gives investors exposure to the overseas education and immigration advisory space, backed by:
- Growing revenues and sharply higher PAT in recent years
- Strong return ratios like ROE above 40% and healthy operating margins
- A diversified basket of services that covers training, counselling and visa support under one roof
At the same time, investors should keep in mind risks such as regulatory changes in destination countries, dependence on student flows and competition from other consultancy and edtech players.
As with any SME IPO, factors like post-listing liquidity and valuation need to be evaluated carefully before investing.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
