Learnfluence Education IPO
Learnfluence Education IPO — date, issue size, SEBI status & DRHP details 2025
Learnfluence Education filed its draft red herring prospectus (DRHP) with SEBI on 9 Oct 2025 for an IPO of a fresh issue of up to ₹246 crore and an offer for sale of up to 40,00,000 shares. The draft is no longer on SEBI's list of pending offer documents. The price band, lot size and IPO dates are not announced yet.
Learnfluence Education runs the Lakshya chain of coaching centres for CA, ACCA, CMA and CS courses from 15 campuses in Kerala, Karnataka and Tamil Nadu. Revenue from operations grew from Rs 32.68 crore in FY2023 to Rs 128.88 crore in FY2025.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the DRHP filed with SEBI
Where the Learnfluence Education IPO stands
From draft to listing. Today is 11 November 2026.
- DRHP filed 09 Oct 2025
- SEBI observations Done
- RHP & price band TBA
- Bidding TBA
- Listing TBA
| DRHP filed with SEBI | 9 Oct 2025 |
|---|---|
| SEBI status | SEBI review completed |
| RHP, price band & dates | Not announced |
Learnfluence Education IPO details
The offer as the DRHP describes it. Terms can change in the RHP.
| Issue type | Fresh issue and offer for sale |
|---|---|
| Fresh issue | Up to ₹246 Cr |
| Offer for sale | Up to 40,00,000 shares |
| Total issue size | Depends on the price band |
| Pre-IPO placement | Up to ₹40 Cr (reduces the fresh issue) |
| Face value | ₹5 per share |
| Proposed listing | BSE, NSE |
| Price band | Not announced (comes with the RHP) |
| Lot size | Not announced |
| IPO dates | Not announced |
| Book running lead managers | Saffron Capital Advisors Private Limited |
| Registrar | Cameo Corporate Services Limited |
Who is selling in the offer for sale
| Selling shareholder | Type | Offering | Avg. cost / share |
|---|---|---|---|
| Orwel Lionel | Promoter | Up to 40,00,000 shares | Rs 0.34 |
The promoter selling shareholder's weighted average cost of acquisition is Rs 0.34 per share, as certified in the document, while primary issuances in the last 18 months averaged Rs 45.08 per share.
Strengths & risks
The case for and against, from the DRHP's own numbers and risk factors.
Strengths · 7
- 01Revenue from operations rose from Rs 32.68 crore in FY2023 to Rs 71.97 crore in FY2024 and Rs 128.88 crore in FY2025.
- 02Profit after tax grew from Rs 1.40 crore in FY2023 to Rs 19.27 crore in FY2025, a PAT margin of 14.95% in FY2025.
- 03EBITDA margin was 29.93% in FY2025 and gross margin was 85.09%, as per the company's KPIs.
- 04Student admissions grew from 6,625 in FY2023 to 11,537 in FY2025, and average revenue per student rose from Rs 49,324 to Rs 1,11,710.
- 05Debt to equity fell from 0.93 in FY2024 to 0.40 in FY2025, and net worth rose to Rs 57.65 crore.
- 06Operating cash flow was positive in all three years: Rs 14.13 crore in FY2025, Rs 20.21 crore in FY2024 and Rs 2.80 crore in FY2023.
- 07ACCA pass rate among the company's students who appeared was 76.85% in the period ending March 2025, up from 70.54%.
Risks · 10
- 01Kerala campuses gave 75.97% of FY2025 revenue, so the business depends on one state.
- 02Trade receivables rose from Rs 4.77 crore in FY2024 to Rs 31.45 crore in FY2025, and operating cash flow of Rs 14.13 crore was lower than PAT of Rs 19.27 crore.
- 03The company paid Rs 214.98 million in FY2025 and Rs 194.51 million in FY2024 to Lakshya CA Campus, a related entity, against the business transfer.
- 04The Lakshya brand is carried at Rs 540 million as an intangible asset, and any impairment would cut profit and net worth.
- 05Rs 69.00 crore of the fresh issue is for 26 new campuses whose exact locations and letters of intent are not yet finalised.
- 06General corporate purposes amount is not yet fixed and can go up to 25% of the gross proceeds.
- 07All properties and campuses are leased, not owned, and lease payments of Rs 21.33 crore are part of the objects.
- 08There are 17 criminal proceedings against the company and 18 against the promoter, and one material civil case against the company of Rs 11.50 million.
- 09Finance costs rose from Rs 2.41 crore in FY2024 to Rs 7.12 crore in FY2025 as borrowings reached Rs 22.84 crore.
- 10Revenue depends on a few professional courses and on faculty, and the business is seasonal with the academic cycle.
Learnfluence Education financials
Restated figures in ₹ crore, as reported in the DRHP.
| ₹ crore | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Revenue from Operations | 128.88 | 71.97 | 32.68 |
| Total Income | 129.43 | 72.22 | 33.29 |
| EBITDA | 38.58 | 22.85 | 2.78 |
| Profit After Tax | 19.27 | 10.61 | 1.40 |
| Net Worth | 57.65 | 13.43 | 2.82 |
| Total Borrowing | 22.84 | 12.53 | 0.23 |
| Total Assets | 167.91 | 95.25 | 16.03 |
Key ratios (FY25)
P/E and market capitalisation need the price band and are added when the RHP is out.
Where the IPO money goes
₹174.52 crore of the fresh issue is earmarked to named objects; offer for sale proceeds go to the selling shareholders, not the company.
About Learnfluence Education
The company sells under the Lakshya brand. It was incorporated in February 2021 and took over the business of Lakshya CA Campus and Lakshya CA Campus Calicut in April 2021 for Rs 574.65 million. The Lakshya brand sits on the balance sheet as an intangible asset valued at Rs 540 million, amortised over 15 years.
Classes are delivered in two ways: in the classroom on campus, and online through the company's Lakshya LMS app. As of 31 August 2025 it operated 15 campuses in 3 states: Kerala, Karnataka and Tamil Nadu. Its alumni network is over 100,000.
Most of the revenue is fees from students. In FY2025, income from students was Rs 1,150.47 million, or 89.27% of revenue from operations. Income from institutions was Rs 92.64 million and exam fee income was Rs 45.69 million. Campus revenue from Kerala was 75.97% of FY2025 revenue, online was 18.99% and revenue from outside India was 5.05%.
In FY2025 the company had 11,537 student admissions, 157 faculty and 747 employees. Average revenue per student was Rs 1,11,710. The promoter, Orwel Lionel, is the Chairman and Managing Director.
The industry
As per the CRISIL report quoted in the document, the Indian education sector is estimated to grow at 11.5-12.5% a year over fiscals 2025-2030. The coaching segment for professional certifications grew at 14.8% a year between fiscals 2020 and 2025. It is expected to reach Rs 70-73 billion by fiscal 2030, a growth of 12-13% a year from fiscal 2025. The organised sector holds 65-70% of this market and the unorganised sector 30-35%. The document puts Learnfluence's market share at 3.26% in India as of FY25.
Customer concentration: Students are the customer base: income from students was 89.27% of FY2025 revenue from operations, and Kerala campuses gave 75.97%.
Promoters & management
The promoter, Orwel Lionel, holds 5,13,88,440 shares, or 94.12% of the pre-offer capital, and Invicta Continuum Fund I is the next largest holder.
| Name | Role |
|---|---|
| Orwel Lionel | Chairman and Managing Director |
| Aravindakshan Kulur Avinash | Executive Director |
| Roushan Kadavathe Peedikayil | Chief Financial Officer |
The bankers & the filings
Who is running the issue, and the SEBI documents this page is built from.
Learnfluence Education IPO: frequently asked
When will the Learnfluence Education IPO open?
The Learnfluence Education IPO dates are not announced yet. The draft is no longer on SEBI's list of pending offer documents. The company announces the dates and price band after it files its red herring prospectus (RHP) with the Registrar of Companies, usually a week or two before bidding opens. This page switches to the full IPO page with dates, price band and lot size as soon as that happens.
What is the Learnfluence Education IPO price band?
The price band is not announced yet. It is set by the company and its lead managers and published with the RHP, a few days before the issue opens. The DRHP fixes only the face value of ₹5 per share.
How big is the Learnfluence Education IPO?
Learnfluence Education filed its draft red herring prospectus (DRHP) with SEBI on 9 Oct 2025 for an IPO of a fresh issue of up to ₹246 crore and an offer for sale of up to 40,00,000 shares. The final size in rupees depends on the price band.
Has SEBI approved the Learnfluence Education IPO?
The draft is no longer on SEBI's list of pending offer documents. SEBI observations are valid for 12 months; the IPO has to open within that window or the company must file again.
What is the Learnfluence Education IPO GMP?
There is no grey market premium to report before the price band is announced. IPO Guru starts tracking the Learnfluence Education IPO GMP once the RHP and price band are out.
What will Learnfluence Education do with the IPO money?
As per the DRHP: Capital expenditure for setting up new physical campuses (₹69 crore); Sales and marketing initiatives (₹61.88 crore); Repayment or prepayment of certain outstanding loans (₹22.31 crore); Lease payments for existing identified long-term campuses (₹21.33 crore).
Who are the lead managers of the Learnfluence Education IPO?
The book running lead managers are Saffron Capital Advisors Private Limited. Cameo Corporate Services Limited is the registrar.
Is Learnfluence Education profitable?
Yes. It reported a profit after tax of Rs 19.27 crore in FY2025, against Rs 10.61 crore in FY2024 and Rs 1.40 crore in FY2023.
Who owns Learnfluence Education?
Promoter Orwel Lionel holds 94.12% before the issue. Invicta Continuum Fund I holds 20,17,020 shares on a diluted basis.
Where does Learnfluence Education operate?
It runs 15 campuses in Kerala, Karnataka and Tamil Nadu, plus online classes. It plans 26 new campuses with IPO money.
Other companies in the IPO pipeline
Mainboard companies with drafts filed with SEBI.
Know the day the price band is out.
We track every mainboard draft from SEBI filing to listing. When Learnfluence Education files its RHP, this page becomes the full IPO page with dates, price band, lot size, GMP and subscription.
Not investment advice. Figures are from the company's draft offer document filed with SEBI and may change in the RHP.
