Addictive Learning Technology (LawSikho) IPO Allotment Status

Quick take on the IPO of Addictive Learning Technology (LawSikho)

The stock of Addictive Learning Technology Ltd (LawSikho) has a face value of ₹10 per share and the IPO is a book built issue; priced in the band of ₹133 to ₹140 per share. The final price of the IPO will be decided within this price band. The IPO of Addictive Learning Technology Ltd (LawSikho) has a fresh issue component and an offer for sale (OFS) component. As part of the fresh issue portion of the IPO, Addictive Learning Technology Ltd (LawSikho) will issue 41,37,000 shares (41.37 lakh shares), which at the upper end of the book building band of ₹140 per share aggregates to fresh fund raising of ₹57.92 crore. The offer for sale (OFS) portion of the IPO will entire the sale of 1,60,000 shares (1.60 lakh shares), which at the upper end of the book building band of ₹140 per share aggregates to OFS size of ₹2.24 crore. 

The entire OFS of 1.60 lakh shares is being offered by the promoter group. As a result, the overall IPO size will comprise of the issue and sale of 42,97,000 shares (42.97 lakh shares) which at the upper IPO band price of ₹140 per share is worth ₹60.16 crore. The Addictive Learning Technology IPO (LawSikho) also has a market maker inventory allocation of 3,16,000 shares. The market maker provides two-way quotes to ensure liquidity on the counter and low basis costs, post listing. Post the IPO, the promoter stake will dilute from 92.27% to 67.27%. Fresh funds will be used by the company for funding inorganic growth, investments in technology, development of new course, branding, marketing, and working capital needs. Narnolia Financial Services Ltd will be the lead manager to the issue, and Maashitla Securities Private Ltd will be the registrar to the issue.

Checking allotment status of Addictive Learning Technology (LawSikho) IPO 

Since this is an NSE SME IPO, there is no facility to check on the exchange website and BSE only offers allotment status for the mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status directly on the website of the IPO registrar, Maashitla Securities Private Limited. Here are the steps that you need to follow to check allotment status.

Visit the Maashitla Securities Private Limited (IPO registrar to Addictive Learning Technology Ltd (LawSikho) website for IPO status by clicking on the link below:

https://maashitla.com/allotment-status/public-issues

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there is also a way to access this page via the home page of Maashitla Securities Private Ltd by clicking on the “Allotment Status” link displayed prominently on the home page. It all works the same.

This dropdown will show the active IPOs and also the IPOs that are being managed by the registrar but not yet active. However, you can access the online allotment status only after the allotment status is finalized for Addictive Learning Technology Ltd (LawSikho). At that point, you can go and select the company Addictive Learning Technology Ltd (LawSikho) from the drop down box. The allotment status will be finalized on 25th January 2024, so in this case, you can access the details on the registrar website either late on 25th January 2024 or by middle of 26th January 2024. Once the company is selected from the dropdown box, you have 2 methods to check the allotment status for the IPO of Addictive Learning Technology Ltd (LawSikho).  

• Firstly, you can query for the application status based on your mapped Income Tax PAN number. Once you select PAN (permanent account number) from the dropdown menu, enter your 10-digit PAN number, which is an alphanumeric code. The first 5 characters are alphabets, sixth to ninth characters are numerical while the last character is once again an alphabet. The PAN number will be available on your PAN card or on top of your income tax returns filed. Once you enter the PAN, click on the Submit Button.

• Secondly, you can also search by Beneficiary ID of your demat account. You have to then enter the combination of the DP id and the Client id as one single string. Remember that the NSDL string is alphanumeric while the CDSL string is a numeric string. Just enter the combination of DP id and customer id as it is. The details of your DP and client ID are available in your online DP statement or in the statement of account. After that you can click the Submit Button in both cases.

You can follow any of the options above. The IPO status with number of shares of Addictive Learning Technology Ltd (LawSikho) allotted will be displayed on the screen. You can save a screenshot of the screen for future reference. Once again, you can verify the demat credit by the close of 29th January 2024 or after that. These shares would be credited to your demat account under the following details (ISIN - INE0RDH01021). 

It must be noted here that, in the past, Maashitla Securities Private Ltd (the registrar to the issue) was also offering the facility to query on allotment status based on application number / CAF number. That has now been discontinued and applicants in the IPO can now only query by either the Income Tax PAN number or the demat account number. The query facility by application number / CAF number is no longer available and therefore the investors can now check the online allotment status only based on the PAN query or the DP account query.

How allocation quota and subscription impact basis of allotment

Here is a quick look at how the allocation was made across different categories of investors. This is the first factor that impacts the investor’s chances of allotment in the IPO.

You can check the number of shares available for your specified quota which gives an idea of the chances of allotment at the outset itself. The response to the IPO of Addictive Learning Technology Ltd (LawSikho) was very strong and it was subscribed 273.12X overall at the close of bidding on 24th January 2024 with the Retail segment seeing 301.71 times subscription and the HNI / NII portion seeing 414.44 times subscription. Even the QIB portion saw robust oversubscription of 116.27X in the IPO. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 24th January 2024.

Next steps after the closure of the IPO

With the IPO closed for subscription at the end of January 24th, 2024, the next piece of action shifts to the finalization of the basis of allotment and later to the listing of the IPO. The basis of allotment will be finalized on 25th January 2024 and the refunds will be initiated on 29th January 2024. In addition, the demat credits are expected to happen on 29th January 2024 and the stock is scheduled to list on 30th January 2024 on the NSE SME segment. This is the segment, in contrast to the mainboard, where IPOs of small and medium enterprises (SMEs) are incubated. The demat credits to the demat account to the extent of allotment will happen by the close of 29th January 2024 under ISIN Number (INE0RDH01021).

The NSE SME segment is the place where the start-ups and young companies get listed, as opposed to the regular mainboard segment. The high level of subscription in the IPO reduces the chances of getting allotment in the IPO, but one has to now wait for the basis of allotment to be finalized. Then the above process flow can be used to check the status.