<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">As our classrooms modernise, Dachepalli binds its ambitions into every book, aiming to be the learning partner for schools across India.<div dir="ltr" style="margin-left:0pt;" align="left"><table style="border: none; border-collapse: collapse; width: 100%;"><thead><tr style="height:0pt;"><th style="border-width: 0.5pt; border-style: solid; border-color: rgb(0, 0, 0); vertical-align: top; padding: 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; text-align: left;" scope="col"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Parameter</th><th style="border-width: 0.5pt; border-style: solid; border-color: rgb(0, 0, 0); vertical-align: top; padding: 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; text-align: left;" scope="col"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Details</th></tr><tr style="height:0pt;"><th style="border-width: 0.5pt; border-style: solid; border-color: rgb(0, 0, 0); vertical-align: top; padding: 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; text-align: left;" scope="col"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Issue Type</th><th style="border-width: 0.5pt; border-style: solid; border-color: rgb(0, 0, 0); vertical-align: top; padding: 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; text-align: left;" scope="col"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">100% Fresh Issue</th></tr><tr style="height:0pt;"><th style="border-width: 0.5pt; border-style: solid; border-color: rgb(0, 0, 0); vertical-align: top; padding: 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; text-align: left;" scope="col"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Issue Size</th><th style="border-width: 0.5pt; border-style: solid; border-color: rgb(0, 0, 0); vertical-align: top; padding: 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; text-align: left;" scope="col"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Rs 40.39 Cr</th></tr><tr style="height:0pt;"><th style="border-width: 0.5pt; border-style: solid; border-color: rgb(0, 0, 0); vertical-align: top; padding: 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; text-align: left;" scope="col"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Price Band / Issue Price</th><th style="border-width: 0.5pt; border-style: solid; border-color: rgb(0, 0, 0); vertical-align: top; padding: 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; text-align: left;" scope="col"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Rs 100-102 per share</th></tr><tr style="height:0pt;"><th style="border-width: 0.5pt; border-style: solid; border-color: rgb(0, 0, 0); vertical-align: top; padding: 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; text-align: left;" scope="col"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Lot Size</th><th style="border-width: 0.5pt; border-style: solid; border-color: rgb(0, 0, 0); vertical-align: top; padding: 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; text-align: left;" scope="col"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">1,200 shares&nbsp;</th></tr></thead><tbody><tr style="height:0pt;"><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Total Issue</td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">39,60,000 shares</td></tr><tr style="height:0pt;"><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Market Maker</td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">1,99,200 shares</td></tr><tr style="height:0pt;"><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Net Issue</td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">37,60,800 shares</td></tr><tr style="height:0pt;"><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Investor Allocation</td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Retail + NII + QIB&nbsp;</td></tr><tr style="height:0pt;"><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Listing Platform</td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">BSE SME</td></tr><tr style="height:0pt;"><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Issue Opens</td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">December 22, 2025</td></tr><tr style="height:0pt;"><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Issue Closes</td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">December 24, 2025</td></tr><tr style="height:0pt;"><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Listing Date (Tentative)</td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">December 30, 2025</td></tr></tbody></table></div><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Let&rsquo;s explore this upcoming IPO further:Powered by <a href="https://www.froala.com/wysiwyg-editor?pb=1" title="Froala Editor">Froala Editor</a>

<div dir="ltr" style="margin-left:0pt;" align="left" data-pasted="true"><table style="border: none; border-collapse: collapse; width: 100%;"><tbody><tr style="height:25pt;"><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); vertical-align: top; padding: 5pt; overflow: hidden; overflow-wrap: break-word; text-align: center;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Strengths</td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); vertical-align: top; padding: 5pt; overflow: hidden; overflow-wrap: break-word; text-align: center;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Risks</td></tr><tr style="height:21.5pt;"><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Deep legacy and brand trust from the early 1900s.</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">High working capital days at 898 in Fy25.</td></tr><tr style="height:13.75pt;"><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">In-house manufacturing and an integrated print and digital ecosystem.</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Regulatory and curriculum-change exposure.</td></tr><tr style="height:24.9pt;"><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">End-to-end control over content development works with 75+ contractual authors.</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Execution risk in digital and expansion plans.</td></tr><tr style="height:54.9722900390625pt;"><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Robust supply chain, with custom logistics software.</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Raw material cost and supply volatility of paper and printing inputs.</td></tr></tbody></table></div> <span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Final Words<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">At Alpha Venture X Fund, we assess opportunities through our&nbsp;<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">LMVT framework &mdash; Leadership, Moat, Valuation, and Tailwinds<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">&nbsp;&mdash; enabling us to identify scalable businesses with durable fundamentals.<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Leadership:<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">&nbsp;A century-old legacy led by promoters with decades of experience and strong equity retention, ensuring aligned execution and focus on scaling the operations.<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Moat:<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">&nbsp;A portfolio of 600+ titles across six brands, along with an in-house &ldquo;WeStudy&rdquo; digital suite provided along with textbooks.<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Tailwinds:<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">&nbsp;Shift towards tech &amp; digital educational methods. Alignment with the new education policy initiated by the government in 2022.<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Valuation:<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">&nbsp;While the valuation is in the fair range in terms of PE, the company is overvalued on the EV/EBITDA comparison.&nbsp;<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Bottom Line:&nbsp;<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Dachepalli is operating in a low-growth industry, backed by intense competition. The moderate level of top-line growth, along with high working capital demands faith in continued execution. This is<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">&nbsp;not a buy&nbsp;<span style="font-size:11pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">for investment purposes.Powered by <a href="https://www.froala.com/wysiwyg-editor?pb=1" title="Froala Editor">Froala Editor</a>

As our classrooms modernise, Dachepalli binds its ambitions into every book, aiming to be the learning partner for schools across India.

<span style="font-size:13pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">IntroductionPowered by <a href="https://www.froala.com/wysiwyg-editor?pb=1" title="Froala Editor">Froala Editor</a>

<span style="font-size:13pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">The Industry Backdrop: India&rsquo;s Publishing IndustryPowered by <a href="https://www.froala.com/wysiwyg-editor?pb=1" title="Froala Editor">Froala Editor</a>

<span style="font-size:13pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Let&#39;s Understand the Book Publishing Process.Powered by <a href="https://www.froala.com/wysiwyg-editor?pb=1" title="Froala Editor">Froala Editor</a>

<span style="font-size:13pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-pasted="true">Competition And Peer AnalysisPowered by <a href="https://www.froala.com/wysiwyg-editor?pb=1" title="Froala Editor">Froala Editor</a>

<span style="font-size:13pt;font-family:Calibri,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Strength and RiskPowered by <a href="https://www.froala.com/wysiwyg-editor?pb=1" title="Froala Editor">Froala Editor</a>

Parameter	Details
Issue Type	100% Fresh Issue
Issue Size	Rs 40.39 Cr
Price Band / Issue Price	Rs 100-102 per share
Lot Size	1,200 shares
Total Issue	39,60,000 shares
Market Maker	1,99,200 shares
Net Issue	37,60,800 shares
Investor Allocation	Retail + NII + QIB
Listing Platform	BSE SME
Issue Opens	December 22, 2025
Issue Closes	December 24, 2025
Listing Date (Tentative)	December 30, 2025

Dachepalli Publishers Ltd. IPO Analysis