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Business News/ Markets / Ipo/  Addictive Learning Technology IPO: Check GMP, subscription status on day 3, key dates, other details
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Addictive Learning Technology IPO: Check GMP, subscription status on day 3, key dates, other details

Addictive Learning Technology IPO is open for subscription from January 19 to January 23. The price band for the IPO is set at ₹140 per share, with a lot size of 1,000 shares. The company offers educational technology services mainly to mid-career and senior professionals.

Addictive Learning Technology IPO has opened for subscription on Friday, January 19, and will close on Tuesday, January 23. (https://lawsikho.com/)Premium
Addictive Learning Technology IPO has opened for subscription on Friday, January 19, and will close on Tuesday, January 23. (https://lawsikho.com/)

Addictive Learning Technology IPO has opened for subscription on Friday, January 19, and will close on Wednesday, January 24. Addictive Learning Technology IPO dates has been extended by a day as the equity market remained closed on Monday on account of a public holiday in the country celebrating the inauguration of the Ram Temple in the northern city of Ayodhya.

Addictive Learning Technology Limited IPO price band has been set at 140 apiece. Addictive Learning Technology Limited IPO lot size consists of 1,000 shares. Investors can bid for a minimum of 1,000 shares and in multiples thereof.

The company's promoters are Abhyudaya Agarwal and Ramanuj Mukherjee. Within the organisation, Ramanuj Mukherjee is the managing director and the promoter. He is a co-founder of the company that created “LawSikho."

Legal entrepreneur Abhyudaya Agarwal joined Addictive Learning Technologies as a co-founder and full-time director. In order to bridge the gap between academic understanding and real-world application, they founded the company under, which they have built the "LawSikho" brand.

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Addictive Learning Technology Limited is an educational technology platform that offers career services and upskilling mainly to mid-career and senior professionals, as well as occasional young professionals.

Addictive Learning Technology Limited IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

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Tentatively, Addictive Learning Technology IPO basis of allotment of shares will be finalised on Thursday, January 25 and the company will initiate refunds on Monday, January 29, while the shares will be credited to the demat account of allottees on the same day. Addictive Learning Technology shares are likely to be listed on NSE SME on Tuesday, January 30.

As per the company's red herring prospectus (RHP), the company's listed peer's are CL Educate Limited (with a P/E of 32.56), and Career Point Limited ( with a P/E 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 its revenue increased by 80.41%.

Addictive Learning Technology Limited IPO subscription status

Addictive Learning IPO subscription status is 273.12 times on day 3. The issue received positive response from retail investors who's portion set was subscribed 301.71 times, and non-institutional buyers who's portion was subscribed 414.44 times, as per data available on chittorgarh.com. Qualified Institutions buyers (QIBs) portion was booked 116.27 times. 

The company has received bids for 76,14,53,000 shares against 27,88,000 shares on offer, according to data on chittorgarh.com.

Addictive Learning IPO subscription status is 22.68 times on day 1, and the issue was subscribed 107.99 times on day 2. 

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Addictive Learning Technology Limited IPO details

The Addictive Learning Technology Limited IPO, which is worth 60.16 crore, comprises a fresh issue of 4,137,000 equity shares, aggregating up to 57.92 crore, and an offer for sale (OFS) component of 160,000 shares, aggregating up to 2.24 crore, according to RHP.

The purpose of this issue is to pay for the company's (in India or abroad) unidentified acquisition.

To cover the costs associated with the identified acquisition, the technology investment, the creation of new courses, the company's branding and marketing costs, the working capital requirements of the business, the general corporate purposes, and the issue costs.

Addictive Learning Technology Limited IPO's book running lead manager is Narnolia Financial Services Ltd, and the issue's registrar is Maashitla Securities Private Limited.

Also Read: Addictive Learning Technology IPO announces price band at 140 apiece: GMP, issue details, more

Addictive Learning Technology Limited IPO GMP today

Addictive Learning Technology Limited IPO GMP or grey market premium is +185, higher than previous four sessions where it was +165. This indicates Addictive Learning Technology share price were trading at a premium of 185 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Addictive Learning Technology was indicated at 325 apiece, which is 132.14% higher than the IPO price of 140.

Based on last 18 sessions grey market activities, today IPO GMP trending upward and expects a strong listing. The lowest GMP is 0, while the highest GMP is 165, as per investorgain.com analysts. 

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision. 

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Published: 19 Jan 2024, 11:09 AM IST
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