Western Overseas Study Abroad Ltd

A monitoring agency report by Brickwork Ratings India Private Limited indicates that an unnamed company has deployed Rs 2.00 crore for debt repayment, as outlined in its initial public offering prospectus, but significant funds remain unutilized, particularly for software acquisition at Rs 2.79 crore. As of June 30, 2026, Rs 1.64 crore has been spent on advertising, Rs 0.21 crore on software, Rs 0.83 crore on issue expenses, and Rs 0.73 crore on general corporate purposes. The report, verified by KVMS and Company, also noted a prior error in classifying GST payments using IPO proceeds, which has since been reimbursed. Delays in software acquisition and advertising implementation are also cited, raising questions about the company's execution capabilities and the accuracy of initial projections. The remaining funds are held in ICICI Bank accounts totaling Rs 3.15 crore.

Western Overseas Study Abroad Limited will close its share transfer books and register of members from Monday, August 24, 2026, to Monday, August 31, 2026, for the purpose of its 13th Annual General Meeting scheduled to be held on Monday, August 31, 2026, as announced to the Bombay Stock Exchange.

Western Overseas Study Abroad Limited informed the BSE Limited that its board approved the appointment of Ms. Ambika Jindal (DIN: 10310252) as an Additional Director (Non-Executive Independent Director), effective August 5, 2026, subject to shareholder approval at the upcoming Annual General Meeting. The board also approved a revision in the remuneration of Mr. Pardeep Balyan, Managing Director, and Mrs. Rekha Rani, Whole-Time Director, within the limits prescribed under the Companies Act, 2013, and recommended a change of name to Western Overseas Global Solutions Limited, along with alterations to the Memorandum of Association and Articles of Association, pending shareholder approval.

Western Overseas Study Abroad Limited informed the BSE Limited that its board approved the appointment of Ms. Ambika Jindal (DIN: 10310252) as an Additional Director (Non-Executive Independent Director), effective August 5, 2026, subject to shareholder approval at the upcoming Annual General Meeting. The board also approved a revision in the remuneration of Mr. Pardeep Balyan, Managing Director, and Mrs. Rekha Rani, Whole-Time Director, within the limits prescribed under the Companies Act, 2013, and recommended a change of name to Western Overseas Global Solutions Limited, along with alterations to the Memorandum of Association and Articles of Association, pending shareholder approval.

Western Overseas Study Abroad will hold a meeting of the Board of Directors of the Company on 28 May 2026.

The scrip was listed at Rs 54.90, a 1.96% discount to the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price. The counter hit a high of Rs 54.90 and a low of Rs 52.16. About 68,000 shares of the company changed hands at the counter. Western Overseas Study Abroad's IPO was subscribed 1.38 times. The issue opened for bidding on 4 December 2025 and it closed on 8 December 2025. The price of the IPO was fixed at Rs 56 per share. The IPO comprised a fresh issue of 17,98,000 equity shares. The promoter and promoter group shareholding diluted to 70.09% from 100% pre-issue. The company intends to utilize the net proceeds to finance advertisement expenses towards enhancing the awareness and visibility of its brand, to finance acquisition and installation of Software, prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and to meet general corporate purposes. Western Overseas Study Abroad is engaged in providing educational and immigration advisory services, offering visa guidance, language training (IELTS, TOEFL, PTE, CELPIP, Duolingo, etc.), and foreign language courses such as French, German, and Spanish. It also provides consulting services, technical, professional, and vocational education, as well as conducts seminars and workshops on domestic and international educational topics, all aimed at supporting individuals seeking education or career opportunities abroad. The company offers a one-stop solution to students and customers predominantly from various parts of Punjab, Chandigarh, Haryana, Delhi, and Madhya Pradesh. The company has 148 employees. The company recorded revenue from operations of Rs 4.94 crore and net profit of Rs 0.54 crore for the period ended 30 June 2025. Powered by Capital Market - Live

The equity shares of Western Overseas Study Abroad (Scrip Code: 544636) are listed effective 11 December 2025 and admitted to dealings on the Exchange in the list of ''MT'' Group Securities. At 09:46 IST, the stock was quoting at a discount of 1.96% to the offer price of Rs 56. Powered by Capital Market - Live