Arihant Academy was incorporated on October 30, 2007, as India Tutorials Private Limited. The company provides coaching services and parallel educational support in the western suburbs of Mumbai, Maharashtra, for Class 8, 9, and 10 students of both State and ICSE boards; Class 11 and 12 students of the commerce and science section. It also tutors 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 prepares students for professional exams such as CS and CA for the entry-level and second-level exam in the commerce section.
| Bidding Dates |
|---|
| 16 Dec 2022 - 21 Dec 2022 |
| Subscription |
|---|
| 235.71x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,44,000 | 1 | 1 | 1600 | 1.6 M | ₹90 | 73 % | ₹147.2 M | RHP DOC |
Arihant Academy IPO SUBSCRIPTION STATUS
21 Dec '22Arihant Academy IPO overall subscription rate was 235.71 times the total available shares
Arihant Academy IPO retail subscription rate was 228.55 times in the retail segment
Arihant Academy IPO non-institutional investor subscription rate was 242.88 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
21 Dec 2022 (Day 4) | 228.55x | 242.88x | - |
19 Dec 2022 (Day 2) | 21.4x | 3.79x | - |
20 Dec 2022 (Day 3) | 60.45x | 11.91x | - |
16 Dec 2022 (Day 1) | 3.21x | 1.52x | - |
Arihant Academy FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| FY22 | 20.2 | 152.1 | 17.9 | 15.0 |
| FY21 | 11.3 | 140.8 | 18.1 | 15.0 |
| FY20 | 4.2 | 192.1 | -0.9 | -7.4 |
Arihant Academy IPO SUBSCRIPTION STATUS DETAILS
Arihant Academy had 1.6 M shares on offer
Arihant Academy IPO offer price was ₹90
Arihant Academy IPO minimum Investment was ₹144000
Arihant Academy IPO issue size was ₹ 147.2 M
Arihant Academy had a minimum lot size of 1600 Shares per application
Arihant Academy NUMBER OF SHARES ON OFFER
Arihant Academy IPO IMPORTANT DATES
| Issue Open Date | 16 Dec 2022 |
| Issue close Date | 21 Dec 2022 |
| Allotment Date | 26 Dec 2022 |
| Refund Date | 27 Dec 2022 |
| Demat Account Credit Date | 28 Dec 2022 |
| Listing Date | 29 Dec 2022 |
| Listing on Exchange(s) | NSE |
| Arihant Academy Allotment Status | Exchange |
Arihant Academy IPO subscription opened on 16 Dec 2022, and closed on 21 Dec 2022
IPO allotment for Arihant Academy was finalized on Monday, 26 Dec 2022
IPO listing for Arihant Academy was on NSE on Thursday, 29 Dec 2022
Arihant Academy IPO LISTING GAINS
| Issue Price (adjusted) | 90.0 |
| Listing Open Price | 120.1 |
| Listing Close Price | 126.1 |
| Listing Gain% | 33.4% |
| Current Gain% | 434.4% |
Arihant Academy Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Arihant Academy Ltd. | 481 | 291.3 | 32 | 0.3 | 4.6 | 27.1 | 15.9 | 64.9 | 52.6 | 9.1 | 104.9 | 15 | 104.9 |
| Physicswallah Ltd. | 131.6 | 38172.8 | -1697.3 | -18.9 | 9.8 | -0.5 | -0.3 | 4131 | 35.9 | -22.5 | 89.6 | -0.1 | 89.6 |
| NIIT Learning Systems Ltd. | 242.8 | 3350.6 | 13.1 | 0.7 | 1.6 | 16 | 8.1 | 1987.9 | 17.1 | 247.7 | 8.9 | 18.5 | 18 |
| Crizac Ltd. | 188 | 3289.3 | 14.9 | 0.4 | 3.2 | 37.5 | 25 | 1071.1 | 21.1 | 219.1 | 43.3 | 12.6 | 40.2 |
| Shanti Educational Initiatives Ltd. | 202.3 | 3259 | 553.1 | -33.4 | 58.6 | 7.7 | 5.8 | 59.4 | -5.9 | 5.9 | -16.6 | 0.4 | -16.6 |
| Mobavenue AI Tech Ltd. | 304 | 2280.4 | 92.4 | 0 | 12.8 | 32.4 | 14.3 | 220.2 | 4576 | 29.3 | 3706.7 | 3.3 | 2384.1 |
Arihant Academy INFORMATION ON IPO ISSUE
About Arihant Academy
Arihant Academy was incorporated on October 30, 2007, as India Tutorials Private Limited. The company provides coaching services and parallel educational support in the western suburbs of Mumbai, Maharashtra, for Class 8, 9, and 10 students of both State and ICSE boards; Class 11 and 12 students of the commerce and science section. It also tutors 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 prepares students for professional exams such as CS and CA for the entry-level and second-level exam in the commerce section.
Object of the Issue
- Funding working capital requirements
- General corporate purposes
Arihant Academy - PROMOTERS
| Name |
|---|
| Anil Suresh Kapasi |
| Umesh Anand Pangam |
Arihant Academy Lead Manager of the Issue
Sherni Shares Private Limited
shrenishares@gmail.com
Arihant Academy Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Arihant Academy Strengths
Hybrid model of coaching
The company offers offline classes with space for discussion and debates, which are essential means for nurturing knowledge. It also offers a hybrid model of teaching, which has offline classrooms with a blend of technology
Experienced management team
The management team and senior personnel such as zonal heads, centre heads, branch principals and branch vice-principals have a collective experience of over 100 years and over 15 years of average experience in the education field
Result-oriented methods of coaching
Over a period of time, the company has developed an effective coaching method and system of imparting conceptual knowledge which is capable of aiding students to perform better in examinations
Arihant Academy Risks
Outstanding litigations
There are outstanding litigations pending against the company, which, if determined adversely, could affect the operations
Dynamic industry
The inability to cater to and suitably update and enhance the depth of the course and product offerings may adversely affect the business, financial condition and results of operations
Geographic concentration
Due to its geographic concentration, the results of operation and growth might be restricted in the event of any adverse changes to the economic and demographic conditions of Maharashtra
IPO FAQs
The promoters of the company are Anil Suresh Kapasi and Umesh Anand Pangam.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 90.0 - 90.0.
The IPO application opens on Dec 16, 2022 and closes on Dec 21, 2022.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 144,000.0, the maximum value for this IPO is Rs 144,000.0.
This IPO will be allotted on Dec 26, 2022.
The refund will be credited to your account on Dec 27, 2022.
The allotted shares will be credited to your demat on Dec 28, 2022.
Arihant Academy Ltd.’s shares listed on the stock exchanges on Dec 29, 2022.