Info Edge-Backed Meritto Gears Up for ₹500 Crore IPO, Revolutionizing EdTech Landscape

Meritto, the enrolment automation firm backed by Info Edge, is set to make waves in the Indian stock market with its ambitious ₹500-600 crore IPO. The Gurugram-based company, aiming for a ₹2,000 crore valuation, has appointed IIFL Capital and SBI Capital as investment bankers. Meritto's CRM software, tailored for educational institutions, has garnered over 1,200 clients and is experiencing a 40% year-on-year growth. While Info Edge holds a 48% stake, their participation in the IPO remains undecided. The offering, expected to be filed in the coming months, marks a significant milestone in India's burgeoning EdTech sector, aligning with the government's goal to increase the Gross Enrolment Ratio to 50% by 2035.

 

Sources: Moneycontrol, NSE, BSE, and company announcements