Western Overseas Study Abroad Ltd IPO

About Western Overseas Study Abroad Ltd

Our Company was originally incorporated at Haryana as Western Overseas Study Abroad Private Limited on 18th September, 2013 under the provisions of the Companies Act, 1956 vide Certificate of Incorporation issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. Consequent upon the conversion of our Company to public limited company, the name of our Company was changed to Western Overseas Study Abroad Limited vide fresh certificate of incorporation dated 24th September, 2024 issued by the Registrar of Companies, Central Processing Centre.

The services sector of India remains the engine of growth for India's economy and contributed 55% to India's Gross Value Added at current prices in FY24 (as per advance estimates). As per the First Advance Estimates, Gross Value Added (GVA) in the services sector is estimated to grow at 10.7% in FY24, driven by 6.3% growth in the contact-intensive services sector. The services category ranked first in FDI inflows, as per data released by the Department for Promotion of Industry and Internal Trade (DPIIT). The services industry performed well in H1: 2023-24, driven by Construction segment. India's services sector GVA increased YoY by 11.43% to Rs. 72.69 trillion (US$ 871.59 billion) in FY24 (April-September), from Rs. 68.81 trillion (US$ 1,005.30 billion) in FY16. The sector provides employment to a large share of Indian population. The service sector has the highest employment generator rate. During October-December 2023, India experienced a 5.1% YoY to US$ 87.7 billion with a trade surplus of US$ 44.9 billion, growth in services exports, driven by software, business, and travel. The services sector has seen some developments, investments, and support from the Government in the recent past. As per the First Advance Estimates, Gross Value Added (GVA) in the services sector is estimated to grow at 9.1% in FY23, driven by 13.7% growth in the contact-intensive services sector. The PMI services increased in June 2024, to reach at 60.5. PMI for services continued to expand, but at a slower pace. India has climbed to the 39th position out of 133 economies in the Global Innovation Index (GII) 2024, according to the World Intellectual Property Organization (WIPO). Nearly half of the new jobs generated in FY23 are within the service sector, particularly in Information Technology (IT), banking, and finance segments. India's service exports stood at US$ 339.6 billion, whereas imports stood at US$177.56 billion in 2023-24. The services trade surplus for 2023-24 is expected to be US$ 162.0 billion. India's service exports stood at US$ 322.72 billion, whereas imports stood at US$ 177.94 billion in April-March 2022-23. The services category in India attracted cumulative Foreign Direct Investments (FDIs) worth US$ 113.49 billion between April 2000 to June 2024. According to RBI's Scheduled Banks' Statement, deposits of all scheduled banks collectively surged by a whopping Rs 2.11 lakh crore (US$ 2,544 billion) as on July 12th 2024. India's medical tourism industry is poised for a robust resurgence, with projections indicating a significant rebound in the number of medical tourists surpassing pre-pandemic levels. Approximately 7.3 million medical tourists are expected to visit India in the calendar year 2024. The telemedicine market is expected to reach US$ 5.4 billion by 2025, driven by increased demand for remote healthcare solutions and advancements in technology.

Incorporated in 2013, our Company, Western Overseas Study Abroad Limited is engaged in providing educational and immigration advisory services, offering visa advice and training, language training (IELTS, TOEFL, PTE, CELPIP, DUOLINGO etc) 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. Our 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.

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