Gurugram-based PlanetSpark, a provider of vocational skill training primarily for schoolchildren, has joined the growing list of companies entering the IPO market in the country. The Binny Bansal-backed firm, which recently reached cash flow break-even, exclusively told ET Rise that it is “planning to go public in the next two years as it looks to tap the capital market.”
Maneesh Dhooper, Co-founder of PlanetSpark, said that the money will go into product development as it plans new product categories. The company wants to invest more in other life skills, such as numerical ability, mathematical aptitude, creativity, logical reasoning, critical thinking, etc., and other skills.
“Money [from IPO] will go into product improvement, opening new categories. It will also go into further automating certain other aspects of our business and helping us scale more. A little bit of it will also go into our brand building through digital means,” he said.
The company is planning to file the draft red herring prospectus (DRHP) with market regulator Sebi in Q4 of 2026. According to Dhooper, the IPO is “an opportunity to create a Rs 5,000-crore business and a global Indian company.”
In 2024, as many as 240 small and medium-sized enterprises (SMEs) hit Dalal Street and raised Rs 8,761 crore, according to data from analytics firm PRIME Database. This underscores the increasing interest of these small businesses in tapping into the capital market. As of February 10, 2025, as many as 1,168 SMEs have been listed on the stock exchanges, including both the BSE and the NSE, since January 1, 2012.
Dhooper says, SME IPOs receiving good response, will “adds more fuel to the economy.”
The Journey
PlanetSpark offers courses such as creative writing, problem-solving, conversational skills, public speaking, etc. for schoolchildren. This includes live online classes, one-on-one sessions, and group practice sessions. Since its founding in 2017, more than 60,000 children have enrolled on the PlanetSpark platform, with many becoming TED Talk speakers, published authors, and even stand-up comedians.
In this fast-paced world, there is a growing need for vocational skills, such as public speaking, story writing, and logical thinking, especially for children. It is vital for their growth and development. While many schools have now included these skills as part of their curriculum, there is still a need for robust and nuanced courses. This is something that Kunal Malik and Manesh Dhooper noticed in 2017.
