Addictive Learning Technology IPO announces price range of ₹140 per piece: GMP, issue details, more

The price range for Addictive Learning Technology Limited's IPO has been set at ₹140 each, according to primary market experts. Addictive Learning Technology's IPO opens for subscription on Friday, January 19th and closes on Tuesday, January 23rd. The lot size of Addictive Learning Technology Limited IPO consists of 1,000 shares. Investors can bid for at least 1,000 shares and multiples thereof.

The company's promoters are Abhyudaya Agarwal and Ramanuj Mukherjee. Within the organization, Ramanuj Mukherjee is the managing director and promoter. He is the co-founder of the company that founded “LawSikho”.

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Legal entrepreneur Abhyudaya Agarwal joined Addictive Learning Technologies as co-founder and full-time director. To bridge the gap between academic understanding and practical application, they founded the company under which they have built the brand “LawSikho”.

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Addictive Learning Technology Limited is an educational technology platform that provides career services and upskilling primarily to mid- and senior-career professionals and occasional young professionals.

The IPO of Addictive Learning Technology Limited has reserved not less than 50% of the shares of the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non-Institutional Investors (NII) and not less than 35% of the offering reserved for retail investors .

It is expected that the share allotment basis for Addictive Learning Technology's IPO will be completed on Wednesday, January 24 and the company will issue refunds on Thursday, January 25 while the shares will be deposited in the demat account of the allottees on the same day be credited. Addictive Learning Technology shares are expected to list on the NSE SME on Monday, January 29.

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According to the company's draft Red Herring Prospectus (DRHP), the company's listed competitors are CL Educate Limited (with a P/E ratio of 32.56) and Career Point Limited (with a P/E ratio of 15.41).

Between March 31, 2022 and March 31, 2023, Addictive Learning Technology Limited's profit after tax (PAT) increased by 603.63% and revenue increased by 80.41%.

Addictive Learning Technology Limited IPO details

The IPO of Addictive Learning Technology Limited, which is worth it ₹60.16 crore, comprising a fresh issue of 4,137,000 shares totaling up to ₹57.92 crore and an offer-for-sale (OFS) component of 160,000 shares, totaling up to ₹2.24 crore, according to DRHP.

The purpose of this issue is to fund unidentified acquisition of the company (in India or abroad).

To cover costs associated with the identified acquisition, technology investments, new course creation, the Company's branding and marketing costs, the Company's working capital needs, general corporate purposes and issuance costs.

The underwriter of the IPO of Addictive Learning Technology Limited is Narnolia Financial Services Ltd and the registrar of the issue is Maashitla Securities Private Limited.

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Addictive Learning Technology Limited IPO GMP today

Addictive Learning Technology Limited IPO GMP or gray market premium is +45. This suggests that Addictive Learning Technology's share price was trading at a premium of ₹45 on the gray market, according to investorgain.com.

Taking into account the upper end of the IPO price range and the current gray market premium, Addictive Learning Technology's estimated list price has been included ₹185 per piece, which is 32% higher than the IPO price of ₹331.

“Gray market premium” indicates investors’ willingness to pay more than the issue price.

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Disclaimer: The above views and recommendations are those of individual analysts, experts and brokerage firms, not Mint. We recommend investors consult certified experts before making an investment decision.

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