Fusion Klassroom Edutech IPO
Fusion Klassroom Edutech LimitedSME
This IPO has listed.
- Open date
- 31 Jul 2026
- Close date
- 4 Aug 2026
- Min. Investment
- ₹2,54,400
- Lot Size
- -
- Fresh Issue
- ₹31.63 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers1.00x
- Non-Institutional Investors1.35x
- Retail-Individual Investors1.80x
- Total1.47x
Schedule
- Completed: IPO open date31 Jul 2026
- Completed: IPO close date4 Aug 2026
- Completed: Allotment date5 Aug 2026
- Completed: Funds unblock or debit5 Aug 2026
- Completed: Tentative listing date7 Aug 2026
About
Promoter shareholding in Fusion Klassroom Edutech Limited, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Alka Nikhil Javeri | 20,85,200 | 28.46% | 19,07,152 | 20.47% |
| Dhruv Nikhil Javeri | 9,62,400 | 13.13% | 8,75,400 | 9.40% |
| Dhumil Nikhil Javeri | 9,62,400 | 13.13% | 8,75,400 | 9.40% |
| Nikhil Narendra Javeri | 4,010 | 0.05% | 4,010 | 0.04% |
| Zaveri Vrajlal Bhimani | 4,812 | 0.07% | 4,812 | 0.05% |
| Kalpana Zaveri Bhimani | 4,812 | 0.07% | 4,812 | 0.05% |
| Adrika Girish Kunder | 48 | 0.07% | 4,812 | 0.05% |
| Darshita Nirav Goda | 5,614 | 0.08% | 5,614 | 0.06% |
Fusion Klassroom Edutech IPO Strengths & Risks
- High-Margin, Asset-Light Digital Core with Strong Operating Leverage.
- Diversified and Resilient Revenue Architecture.
- Profitability Track Record with Strong Capital Discipline.
- Scaled, Proven and Monetizable Education Platform with National Reach.
- Deep Government, Institutional and Regulatory Execution Capability.
- Proprietary Content Library with Long Economic Life and AI SaaS Optionality.
- Established 9+ Year Brand with Strong Distribution Moat.
- High-Demand, Future-Ready Course Portfolio Driving Long-Term Growth.
- Risks Relating to the Business: The company does not own any of the properties from which its operates. If the company is unable to renew its current leases or if the company renew them on terms which are detrimental to the Company, its may suffer a disruption in its operations or increased relocating costs, or both, which could adversely affect the company's business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The Company has negative cash flow in the financial year ended on March 31, 2026, March 31, 2025 and March 31, 2024 details of which are given below. Sustained negative cash flow could impact its growth and business.
- Risks Relating to the Business: The company derives a significant portion of its revenues from the sale of the company's services in certain key states. Its revenues from Uttar Pradesh constituted 42.60%, 46.86% and 57.16% of the company's total revenue from operations in Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively. Revenues from Rajasthan accounted for 24.00%, 23.21% and 0.76% during Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively, while revenues from Maharashtra contributed 26.76%, 29.71% and 42.03% during the same periods. In addition, revenues from Haryana constituted 5.64% of its total revenue from operations in Fiscal 2026, while revenues from Karnataka constituted 0.62% during Fiscal 2026. Consequently, a substantial portion of the company's revenues is geographically concentrated in these states. Any adverse developments, including changes in state-specific regulations, economic conditions, political instability, natural calamities, or disruptions affecting its operations in such regions, could have an adverse impact on the company's business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company's success depends on its ability to attract and retain students. Any failures to does so could adversely impact the company's business, reputation, financial conditions and cash flows.
- Risks Relating to the Business: Certain media reports have incorrectly referred to Suniel Shetty as an investor in the Company, which may lead to misinterpretation and impact investor perception.
- Risks Relating to the Business: There has been certain instances of non-compliances in respect of ROC related filing or payments.
- Risks Relating to the Business: The company has generally complied with applicable statutory filing and payment requirements, except for certain delays in filing and payment of GST dues in a few cases whose details has been explained below.
- Risks Relating to the Business: The company's success depends on its ability to attract and retain faculty members. Any failures to does so could adversely impact the company's business, operations, financial condition and cash flow.
- Risks Relating to the Business: Failures or disruptions in the company's information technology systems, digital platforms and OTT applications could adversely affect its education delivery, operations and financial performance.
- Risks Relating to the Business: The company is dependent on its key employees and senior management, and any inability to attract or retain such personnel could adversely affect the company's business and financial performance.
- Risks Relating to the Business: The company has in past entered into related party transactions and its may continue to does so in the future.
- Risks Relating to the Business: The company's recent significant growth in revenue and profitability may not be indicative of its future performance and the company's inability to sustain such growth or margins could affect its business and financial condition.
- Risks Relating to the Business: Any failures or breach of the company's data security systems, or any theft, loss or misuse of sensitive data, could adversely affect its business, reputation, results of operations and financial condition.
- Risks Relating to the Business: Any failures to prevent or effectively address fraudulent or improper activities by students, employees or third-party service providers could adversely affect the company's business, reputation and financial condition.
- Risks Relating to the Business: The company's efforts to diversify its educational products and services may adversely affect the company's business operations, costs and student satisfaction.
- Risks Relating to the Business: The Company engages with consultants and professional advisors from time to time and undertakes actions on the basis of their views from time to time. Any deficiency in their views, and a consequent action of the Company pursuant thereto, may have adverse impact on its business, financial condition and results of operations.
- Risks Relating to the Business: The company operates in a highly competitive education industry, and an inability to compete effectively with organised players and independent educators could adversely affect its business, financial condition and results of operations.
- Risks Relating to the Business: If the company is unable to maintain and enhance its brand name and reputation, the company's student enrolments, revenues and operating performance may be adversely affected.
- Risks Relating to the Business: The company's development and delivery of multi-language educational content involve quality-control risks, which could adversely affect student outcomes and its reputation in regional markets.
- Risks Relating to the Business: The Issuer has incurred losses in one of the recent financial years, and there can be no assurance that the company will be able to sustain profitability in the future.
- Risks Relating to the Business: A significant portion of the company's revenue is derived from a limited number of institutional partners and student enrolments, and any inability to add new institutional partners, attract students directly or expand its offline centre network could adversely affect the company's business and results of operations.
- Risks Relating to the Business: The company's government partnerships and tie-ups carry execution risks, as government policies may shift away from engaging private edtech agencies.
- Risks Relating to the Business: The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Offer. Further, the company has not identified any alternate source of financing the `Objects of the Offer'. Any shortfall in raising/meeting the same could adversely affect its growth plans, operations and financial performance.
- Risks Relating to the Business: All of the company's trademarks were previously registered in the name of one of its Promoters, and any delay in recordal of such transfer by the Trade Marks Registry may affect the company's intellectual property rights.
- Risks Relating to the Business: Limited internet connectivity and digital infrastructure in rural and semi-urban areas may constrain the scalability of the company's hybrid education delivery model and limit its addressable market.
- Risks Relating to the Business: The company's ability to continuously update and enhance its course study material is critical to maintaining the quality and relevance of the company's offerings.
- Risks Relating to the Business: Failures to protect the company's intellectual property rights may adversely affect its business, cash flows and results of operations.
- Risks Relating to the Business: Delays in receipt of payments from the company's B2B Clients may adversely affect its liquidity, cash flows and results of operations.
- Risks Relating to the Business: The company's reliance on non-exclusive distributors and third-party platforms may limit its ability to protect content differentiation and could adversely affect the company's revenues and margins.
- Risks Relating to the Business: The company's exposure to loans repayable on demand may impact its liquidity and financial flexibility.
- Risks Relating to the Business: Failures to protect students' safety and security may negatively impact the company's reputation and business.
- Risks Relating to the Business: The Company has issued Equity Shares in the last one year at a price which may be lower than the Offer Price.
- Risks Relating to the Business: The company's dependence on third-party partner centres for delivery of educational services exposes it to risks relating to service quality, operational control and contractual arrangements, which could adversely affect its business.
- Risks Relating to the Business: The levy of Goods and Services Tax ("GST") at the rate of 18% on coaching and training services may adversely affect demand for the company's services and impact its business and results of operations.
- Risks Relating to the Business: The company's exploration of AI- and ML-based education technology models involves significant risks, which could adversely affect student engagement, regulatory compliance, operational stability and long-term profitability.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares held by the company's Promoters could be lower than the Offer Price.
- Risks Relating to the Business: The company's recent conversion from a private limited company to a public limited company may lead to administrative complexities and a failures to update all its agreements, including leave and license agreements for the company's branches, with its new company name, which could adversely affect the company's operations and financial performance.
- Risks Relating to the Business: The company has not paid any dividends in the past, and its ability to pay dividends in the future will depends on factors such as its earnings, financial condition, working capital needs, the performance of the company's acquired businesses, capital expenditures, and the restrictive covenants of its financing arrangements.
- Risks Relating to the Business: If the company fails to maintain effective internal control systems, its may be unable to manage financial and operational risks associated with the company's education business, which could adversely affect its business and financial performance.
- Risks Relating to the Business: The Company has not obtained any insurance coverage to protect itself against certain operating hazards and this may have a material adverse effect on the company's business.
- Risks Relating to the Business: The company may be required to revise its course fees and pricing structures to remain competitive in the education and coaching industry, and any inability to does so may adversely affect the company's business and financial performance.
- Risks Relating to the Business: The company's Promoters, together will continue to retain majority shareholding in the Company after the proposed Initial Public Offer, which will allow them to exercise significant control over it. The company cannot assure you that its Promoters and Promoter Group members will always act in the best interests of the Company.
- Risks Relating to the Business: If the company does not continue to develop the company's technology stack or introduce new tech-backed tools, its may not remain competitive and the company's business, cash flows, financial condition and results of operations could be adversely affected.
- Risks Relating to the Business: The company's Statutory Auditors has not provided any observations in their reports for the FYs 2026, 2025, and 2024 under the Companies (Auditors Report) Order, 2020.
