Arihant Academy Limited IPO Detail
Incorporated in 2007, Arihant Academy Limited is engaged in providing coaching services and parallel educational support verticals. The company offers services in the western suburbs of Mumbai, Maharashtra for Class 8, 9 and 10 for both State Board and ICSE Board; Class 11 and 12 for the commerce and science section; tutoring students in the science field for entrance exams such as JEE (Main), JEE (Advanced) and MHT- CET (State level), NEET (National Level), MHT- CET (State Level, Maharashtra) and preparing students for professional exams such as CS and CA for the entry-level and second level exam, in the commerce section.
The company operates under the brand name "Arihant Academy".
The company has managed to develop a base in the coaching classes sector by setting up 8 branches at the time of taking over the business of the M/s. Arihant Academy to 14 branches across all the sections. Arihant Academy Limited caters to around 6,000 students from these 14 coaching centres.
Competitive Strengths:
- Hybrid Model of Coaching.
- Experienced Management Team.
- Qualified Pool of Faculty.
- Professional & Organizational Development.
- Result-oriented methods of coaching.
Company Promoters
Mr. Anil Suresh Kapasi and Mr. Umesh Anand Pangam are the company promoters.IPO Details
| IPO Opening Date | Dec 16, 2022 |
| IPO Closing Date | Dec 21, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹90 per equity share |
| Market Lot | 1600 Shares |
| Min Order Quantity | 1600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹14.72 Cr |
| Fresh Issue | 1,635,200 shares of ₹10 (aggregating up to ₹14.72 Cr) |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 1.52x | 3.21x | 2.36x | |
| Day 2 | - | - | 3.79x | 21.40x | 12.59x | |
| Day 3 | - | - | 11.91x | 60.45x | 36.18x | |
| Day 4 | - | - | 242.89x | 228.85x | 235.87x |
IPO Tentative Timetable
The Arihant Academy Limited IPO open date is Dec 16, 2022, and the close date is Dec 21, 2022. The issue may list on Dec 29, 2022.
| IPO Open Date | Dec 16, 2022 |
| IPO Close Date | Dec 21, 2022 |
| Basis of Allotment Date | Dec 26, 2022 |
| Initiation of Refunds | Dec 27, 2022 |
| Credit of Shares to Demat Account | Dec 28, 2022 |
| IPO Listing Date | Dec 29, 2022 |
IPO Lot Size
The Arihant Academy Limited IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹144000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹144000 |
| Maximum | 1 | 1600 | ₹144000 |
IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.00% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 814.3 | 1921.12 | 42.09 |
| 31-Mar-21 | 829.09 | 1409.77 | 112.56 |
| 31-Mar-22 | 1104.26 | 1531.97 | 201.86 |
Objects of the Issue:
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
1. Funding working capital requirements.
2. General corporate purposes.
Arihant Academy Limited IPO Registrar:
Bigshare Services Pvt Ltd
Arihant Academy Limited IPO Lead Manager(s):
SHRENI SHARES PRIVATE LIMITED
Company Contact Information:
Arihant Academy Limited
Ground Floor, Triveni Sadan, Opp Ambe Mata Temple, Carter Road No. 3, Borivali (East)
Mumbai
Mumbai
