NSE SME Addictive Learning Technology soars on debut

Shares of Addictive Learning Technology were quoting at Rs 294.50 on the NSE, a premium of 110.36% compared with the issue price of Rs 140.

The scrip was listed at Rs 310, a premium of 121.43% compared with the initial public offer (IPO) price. The stock was currently frozen in a lower limit of 5% over its listing price.

The counter hit a high of Rs 320 and a low of Rs 294.50. About 17.55 lakh shares of the company changed hands at the counter.

Addictive Learning Technology's IPO was subscribed 177.27 times. The issue opened for bidding on 19 January 2024 and it closed on 23 January 2024. The price of the IPO was fixed at Rs 133 to Rs 140 per share.

The IPO comprised fresh issue of 41,37,000 shares and offer for sale is of 1,60,000 equity share.

The company intends to utilize the net proceeds for unidentified acquisition (in India or abroad), identified acquisition, investment in technology, development of new courses, branding & marketing expenses for the company, working capital requirements of the company and general corporate purposes and issue expenses.

Ahead of the IPO, Addictive Learning Technology on 18 January 2024, raised Rs 16.68 crore from anchor investors. The board allotted 11.92 lakh shares at Rs 140 per share to 10 anchor investor.

Addictive Learning Technology is a professional upskilling and career services edtech platform which caters primarily to senior & mid-career professionals, and in some cases to young professionals as well. The company offers a comprehensive range of professional upskilling courses and training programs which includes Law, finance, compliance, human resources, business consulting, artificial intelligence, content writing and Data Science through three distinct brands LawSikho, Skill Arbitrage and Dataisgood. The company has 145 employees.

The company recorded revenue from operations of Rs 24.82 crore and net profit of Rs 3.15 crore for the period as on 31 August 2023.

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