Western Overseas Study Abroad
- Western Overseas Study Abroad is coming out with an initial public offering (IPO) of 17,98,000 equity shares of face value of Rs 10 each for cash at a fixed price of Rs 56 per equity share.
- The issue will open on December 04, 2025 and will close on December 08, 2025.
- The shares will be listed on SME Platform of BSE.
- The share is priced at 5.60 times higher to its face value of Rs 10.
- Book running lead manager to the issue is Sobhagya Capital Options.
- Compliance Officer for the issue is Shruti Gupta.
Profile of the company
Incorporated in 2013, Western Overseas Study Abroad is engaged in providing educational and immigration advisory services, offering visa advice and training, language training (IELTS, TOEFL, PTE, CELPIP, DUOLINGO,LANGUAGE CERT) and Foreign languages like French, German, Spanish, consulting services, and technical, professional, and vocational education, as well as conducting seminars and workshops on Domestic and International educational topics, all aimed at supporting individuals seeking education or career opportunities abroad. The company provides a one-stop solution to the students and customers predominantly from various parts of Punjab, Chandigarh and Haryana, Delhi and Madhya Pradesh. The company’s vision is to empower the aspiring students of India and fulfil the dreams of the citizens to position themselves successfully in the global landscape.
As the world becomes increasingly interconnected, the demand for skilled professionals, students, and travellers to cross borders has surged and the company has seized this opportunity to expand its business by providing guidance in the complex process of obtaining visas for different purposes in the current era. It has successfully assisted various clients in navigating the complex immigration and visa processes. Its expertise and dedication have enabled it to become a trusted partner for individuals and organizations seeking reliable visa services. During the Financial year 2023-24, the company has made its presence in 14 countries other than India across the world from its services including Canada, Australia, UK, USA, Germany, Latvia, Malta, New Zealand, Singapore, Switzerland, UAE, South Korea, Ireland and Bulgaria.
The company offers a comprehensive range of professional programs which includes a) Education Consultancy b) Education Loan Guidance and Scholarships c) Admission & filing of application Formalities, d) Training for Language Proficiency Tests, e) Study Visa, tourist Visa etc. Also, the company provides Admission support to its students right from the time when they enroll with it. Career support is embedded throughout its program rather than at the end of a course. The company’s team helps its students’ hands on to identify and to create opportunities, provide guidance & support to develop their professional track record & develop an outreach strategy for them which can help them to take career benefits from newly developed skills.
Proceed is being used for:
- Financing advertisement expenses towards enhancing the awareness and visibility of its brand
- Financing acquisition and installation of Software
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company
- Meeting general corporate purposes
Industry Overview
India has the largest population in the world in the age bracket of 5-24 years with 580 million people, presenting a huge opportunity in the education sector. India holds an important place in the global education industry. India has one of the largest networks of higher education institutions in the world. However, there is still a lot of potential for further development and improvement in the education system. With increasing awareness, private Indian players are collaborating with international brands to provide an international standard of education. Private investments in the Indian education sector have increased substantially over the past two decades. The demand for specialised degrees is also picking up with more and more students opting for specific industry-focused qualifications. Higher education institutes in India are focusing on creating online programmes due to the increasing demand from consumers. With cutting-edge technologies such as AI, ML, IoT and blockchain, India's education sector will redefine itself in the years to come. It has also embraced the Education 4.0 revolution, which promotes inclusive learning and increased employability.
The education sector in India was estimated to be worth $117 billion in FY20 and is expected to reach $225 billion by FY25. India K-12 segment growth was valued at $48.9 billion in 2023. It is, currently, estimated to grow at a rate of 10.7%. Projected to reach an impressive $125.8 billion by 2032. India has over 250 million school-going students, more than any other country. India had 43.3 million students enrolled in higher education in 2021-22 with 22.6 million male and 20.7 million female students. India had 43.3 million students enrolled in higher education in 2021-22 with 22.6 million male and 20.7 million female students, as against 41.3 million students enrolled in higher education in 2020-21, with 21.2 million male and 20.1 million female students. In 2022-23, there are 8,902 total AICTE-approved institutes in India. Out of these 8,902 institutes, there are 3,577 undergraduates, 4,786 postgraduate and 3,957 diploma institutes. The Indian edtech market size is expected to reach $30 billion by 2031, from $700-800 million in 2021.
In 2030, it is estimated that India’s higher education will: Combine training methods that involve online learning and games, and it is expected to grow by 38% in the next 2-4 years; Adopt transformative and innovative approaches in higher education; Have an augmented Gross Enrolment Ratio (GER) of 50%; Reduce state-wise, gender-based and social disparity in GER to 5% etc. Going forward, the Government of India has taken several steps including opening of IITs and IIMs in new locations, as well as allocating educational grants for research scholars in most government institutions. Furthermore, with the online mode of education increasingly being used by several educational organisations, the higher education sector in India is set for major change and development in the years to come.
Pros and strengths
Experienced and knowledgeable team: The company has well trained and well-educated staff for its coaching / education department. Along with education, the company has experienced professional having in depth understanding of immigration laws and regulations, which helps the company to achieve good success ratio in its Visa procedure for its clients. It stays abreast of changes in immigration policies and visa norms and always remain informed about global trends. Its specialized knowledge in handling various visa categories, residency, and immigration ensures a smooth experience for its clients.
Range of services under one Roof: From training to consultation and application processing to reaching the final destination, Western overseas offers a comprehensive range of services tailored to the unique requirements and goals of each client, all under one roof. By delivering a multitude of services in a centralized location, the company is able to attract a broader clientele compared to those offering singular services.
Customization expertise: The company offers individualized advice and guidance tailored to each client's circumstances and goals. Providing all-encompassing services that address specific challenges or requirements is consistently appealing to every client. Customizing application strategies to fulfill the distinct needs of each individual is the key reason why its clients refer it to their friends and relatives.
Risks and concerns
Exposure to international market volatility: For the period ended March 31, 2023, March 31, 2024, March 31, 2025 and three months ended June 30, 2025, its revenue from its customers situated outside India contributed 67.57%, 62.83%, 51.98% and 46.89% respectively its total revenue from operations as per its Restated Financial Statements. Such geographical concentration heightens its exposure to adverse developments related to competition, as well as economic and demographic changes in these regions which may adversely affect its business prospects, financial conditions and results of operations. Its inability to further expand into new areas outside this market may adversely affect its business prospects, financial conditions and results of operations.
Heavy reliance on select countries for revenue: The company generates its major portion of sales from its operations from a particular geographical region, Canada, Australia, UK and Germany. Such geographical concentration of its business in this country heightens its exposure to adverse developments related to competition as well as economic and demographic changes in these countries which may adversely affect its business prospects, financial conditions and results of operations. The company may not be able to leverage its experience in those countries to expand its operations in other parts of world, should it decide to further expand its operations. Factors such as competition, regulatory regimes, business practices and customs, industry needs, where it may expand its operations may differ from those in such regions and its experience in these regions may not be applicable to other industries.
Dependence on key institutional and student relationships: The company is engaged in providing educational and immigration advisory services, offering visa advice and training, language training (IELTS, TOEFL, PTE, CELPIP, DUOLINGO, LANGUAGE CERT) and Foreign languages like French, German, Spanish, consulting services, and technical, professional, and vocational education, as well as conducting seminars and workshops on Domestic and International educational topics. The company generate its revenue from various institutions or students, while revenue from any particular institution may vary between financial reporting periods depending on the nature and term of on-going contracts. Its failure or inability to continue such relationship for any reason (including, due to failure to negotiate acceptable terms or adverse change in the financial or economic conditions) could have a material adverse impact on its business, results of operations, financial condition and cash flows.
Outlook
Western Overseas Study Abroad is engaged in providing educational and immigration advisory services, and offering visa advice. The company also offers language training (IELTS, TOEFL, PTE, CELPIP, Duolingo, Language Cert), foreign language courses (French, German, Spanish), consulting services, and workshops for individuals pursuing education or career opportunities abroad. On the concern side, the company generates its major portion of revenue from its operations in from Global institutions. Any adverse developments affecting its operations in these regions could have an adverse impact on its revenue and results of operations. The company generates its major portion of sales from its operations from a particular geographical region, Canada, Australia, UK and Germany. Any adverse developments affecting its operations in this country could have an adverse impact on its revenue and results of operations.
The company is coming out with an IPO of 17,98,000 equity shares of face value of Rs 10 each for cash at a fixed price of Rs 56 per equity share to mobilize Rs 10.07 crore. On performance front, the company’s revenue from operations increased by 11.93% to Rs 2272.52 lakh for the financial year 2024-25 from Rs 2030.24 lakh for the financial year 2023-24. The increase was mainly due to increase in its business operations from existing business operations from abroad and increase in fee from exam related activities. Moreover, the company’s profit after tax increased by 85.75% to Rs 221.09 lakh for the financial year 2024-25 from Rs 119.02 lakh for the financial year 2023-24.
The immigration industry is technologically advanced, and while it is currently well-equipped, it is committed to further investing in technology. This investment aims to streamline processes, secure client data, and improve communication. The company’s focus on technology update is not only to attract more clients but also to ensure data security, facilitate faster transactions, and provide consultations in remote areas. As part of its strategy, it plans to expand its market reach through increased branding on digital platforms, which is just one aspect of its broader technology integration initiative. Additionally, the geographical expansion of its business necessitates leveraging technology.
