Stellar Debut: Addictive Learning lists at ₹310, premium of 120% to IPO price

Addictive Learning Technology's share price made a strong debut on the bourses today, January 30, 2024, as the stock got listed at ₹310 apiece on NSE SME, a premium of 121.42% to the issue price of ₹140. The stock surged further to hit an intraday high of ₹320 apiece.

The ₹60.16 crore SME IPO was open for subscription between January 19 and January 24, 2023, at a price band in the range of ₹133–140 per share. The IPO comprises a fresh issue of equity shares worth 41.37 lakh, aggregating ₹57.92 crore, and an offer for sale (OFS) of 1.6 lakh shares, aggregating ₹2.24 crore.

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The issue was overall subscribed to 245 times. The issue received a stellar response from retail investors whose portion set was subscribed to 387 times and a solid response from non-institutional buyers whose portion set was subscribed to 533 times. The qualified institutional buyers (QIBs) portion was subscribed to 59 times, according to data on Trendlyne.

The company plans to use the net proceeds from the issue for investment in technology, development of new courses, branding & marketing expenses, working capital requirements, unidentified acquisitions (in India & abroad), and general corporate purposes.

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About Addictive Learning 

Addictive Learning Technology is an ed-tech platform specialising in professional upskilling and career services. Primarily catering to senior and mid-career professionals, the platform, consisting of three brands—LawSikho, Skill Arbitrage, and Dataisgood—offers a diverse array of courses spanning law, finance, compliance, human resources, business consulting, artificial intelligence, content writing, and data science.

The company's focus extends to providing upskilling courses that empower learners to explore remote career opportunities in the international market, with popular subjects including US intellectual property law, US tax law, international business law, and more, according to the company's RHP report.

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Further, the company also provides international bar exam courses such as the Canadian Barrister & Solicitor Exam & NCA Exam for Indian lawyers who want to practice in Canada. Training for Indian lawyers to crack the solicitors qualifying exam (SQE) and qualify as solicitors in England and Wales, its RHP report showed.

Addictive Learning Technology has a listed peer, including CL Educate and Career Point.

Addictive Learning Financials

The company reported revenue of ₹677.77 lakhs in FY21, which improved to ₹1,859.34 lakhs in FY22 and further to ₹3,3354.47 lakhs in FY23. In FY21, the company reported a net loss of ₹0.54 lakhs, losses continued into FY22, reaching ₹49.07 lakhs. However, the company successfully turned around, achieving a notable profit of ₹247.13 lakhs in FY23.

During the first half of FY23, the company maintained its positive momentum, recording a revenue of ₹2,482 lakhs and a net profit of ₹315.96 lakhs.

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