Lawsikho Limited is set to launch its Initial Public Offering (IPO) as a book-built issue, aiming to raise Rs 60.16 crores. The IPO is a combination of a fresh issue of 41.37 lakh shares aggregating to Rs 57.92 crores and an offer for sale of 1.6 lakh shares aggregating to Rs 2.24 crores.
**Key Details of Lawsikho IPO:**
– **Issue Size:** The IPO is a book-built issue with a total size of Rs 60.16 crores, consisting of a fresh issue of 41.37 lakh shares and an offer for sale of 1.6 lakh shares.
– **Price Band:** Lawsikho IPO price band is set at ₹130 to ₹140 per share.
– **Lot Size:** The minimum lot size for an application is 1000 shares.
– **Minimum Investment:** Retail investors need a minimum investment of ₹140,000, while HNI investors need to invest in 2 lots (2000 shares), amounting to ₹280,000.
– **Book Running Lead Manager:** Narnolia Financial Services Ltd is the book running lead manager.
– **Registrar:** Maashitla Securities Private Limited is the registrar for the issue.
– **Listing Date:** The IPO is expected to list on NSE SME on Monday, January 29, 2024.
**IPO Timeline (Tentative Schedule):**
– IPO opens on January 19, 2024, and closes on January 23, 2024.
– Basis of Allotment: Wednesday, January 24, 2024.
– Initiation of Refunds: Thursday, January 25, 2024.
– Credit of Shares to Demat: Thursday, January 25, 2024.
– Listing Date: Monday, January 29, 2024.
– Cut-off time for UPI mandate confirmation: 5 PM on January 23, 2024.
**Promoter Holding:**
– The promoters of the company are Mr. Ramanuj Mukherjee and Mr. Abhyudaya Sunil Agarwal.
– Shareholding pre-issue: 92.27%
– Shareholding post-issue: 67.27%
**Reservation Details:**
– QIB Shares Offered: Not more than 50% of the Net Issue
– Retail Shares Offered: Not less than 35% of the Net Issue
– NII (HNI) Shares Offered: Not less than 15% of the Net Issue
**About Addictive Learning Technology Limited:**
Incorporated in September 2017, Addictive Learning Technology Limited is an educational technology platform that primarily caters to senior and mid-career professionals, offering upskilling and career services.
The company provides courses and training programs covering Law, Finance, Compliance, Human Resources, Business Consulting, Artificial Intelligence, Content Writing, and Data Science under three different brands: LawSikho, Skill Arbitrage, and Dataisgood.
Lawsikho offers international bar exam courses, including Canada Bar Exam, UK Solicitor Qualification Exam, and California Bar Exam, allowing Indian lawyers to practice in Canada, qualify as solicitors in England and Wales, and practice law in the United States, respectively.
The courses are accredited by the National Skill Development Corporation (NSDC), a PPP under the Ministry of Skill Development and Entrepreneurship of the Government of India. Upon course completion, learners receive a certificate co-branded by NSDC and Skill India.
As of October 2023, the company employs 145 full-time employees and has 444 full-time professionals/consultants providing their services.
**Financial Information (Restated):**
– Lawsikho’s revenue increased by 80.41%, and profit after tax (PAT) rose by 603.63% between August 31, 2023, and March 31, 2022.
**Key Performance Indicators:**
– ROE (Return on Equity): 119.79%
– ROCE (Return on Capital Employed): 157.53%
– Debt/Equity: 0.08
– RoNW (Return on Net Worth): 119.79%
– P/BV (Price-to-Book Value): 0.29
**Objects of the Issue:**
The Net Proceeds from the Issue will be utilized for:
1. Meeting expenses for Unidentified Acquisition for the Company (In India or Abroad).
2. Meeting expenses for Identified Acquisition.
3. Investment in Technology.
4. Development of new courses.
5. Branding & Marketing Expenses for the Company.
6. Meeting Working Capital requirements.
7. General Corporate Purposes.
8. Meeting Issue Expenses.
**IPO Review:**
Considering the negative bottom lines for H1-FY23 and FY23, the review suggests a cautious approach to the IPO, as the performance raises concerns.
**Prospectus:**
Detailed information about the IPO can be found in the Lawsikho IPO Draft Red Herring Prospectus (DRHP) available for a more comprehensive understanding of the offering.
