The Sodhani Academy of Fintech Enablers IPO is a fixed price issue of ₹6.12 crores. The issue consists of a fresh issue of 9.7 lakh shares aggregating to ₹3.88 crores and an offer for sale (OFS) of 5.6 lakh shares aggregating to ₹2.24 crores. The IPO is open for subscription from September 12, 2024, to September 17, 2024, with an expected listing date on BSE SME on September 20, 2024.
The issue price is set at ₹40 per share, with a minimum lot size of 3,000 shares. Retail investors can invest a minimum of ₹120,000, while High Networth Individuals (HNI) need to invest in at least two lots (6,000 shares), amounting to ₹240,000.
IPO Details
| Category | Details |
|---|---|
| IPO Opening Date | September 12, 2024 |
| IPO Closing Date | September 17, 2024 |
| Listing Date | September 20, 2024 (tentative) |
| Face Value | ₹10 per share |
| Price | ₹40 per share |
| Lot Size | 3,000 shares |
| Total Issue Size | 15,30,000 shares (₹6.12 Cr) |
| Fresh Issue | 9,70,000 shares (₹3.88 Cr) |
| Offer for Sale | 5,60,000 shares (₹2.24 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing Exchange | BSE SME |
| Market Maker Portion | 78,000 shares by Prabhat Financial Services |
IPO Reservation
| Investor Category | Shares Offered | Percentage of Issue |
|---|---|---|
| Market Maker | 78,000 shares | 5.1% |
| NII | 7,26,000 shares | 47.45% |
| Retail Investors | 7,26,000 shares | 47.45% |
| Total | 15,30,000 shares | 100% |
Sodhani Academy of Fintech Enablers IPO Timeline
| Event | Date |
|---|---|
| IPO Open Date | September 12, 2024 |
| IPO Close Date | September 17, 2024 |
| Basis of Allotment | September 18, 2024 |
| Initiation of Refunds | September 19, 2024 |
| Credit of Shares to Demat | September 19, 2024 |
| Listing Date | September 20, 2024 |
Lot Size and Investment
The table below shows the minimum and maximum investment required for retail investors and HNIs.
| Investor Type | Lots | Shares | Investment (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹120,000 |
| Retail (Max) | 1 | 3,000 | ₹120,000 |
| HNI (Min) | 2 | 6,000 | ₹240,000 |
Financial Overview
Sodhani Academy of Fintech Enablers Limited has shown a steady increase in its financial performance over the past three years.
| Period Ended | 31 Mar 2024 (₹ Lakhs) | 31 Mar 2023 (₹ Lakhs) | 31 Mar 2022 (₹ Lakhs) |
|---|---|---|---|
| Assets | 660.04 | 501.57 | 363.2 |
| Revenue | 306.95 | 203.45 | 188.19 |
| Profit After Tax | 183.17 | 138.6 | 123.91 |
| Net Worth | 656.22 | 476.85 | 338.25 |
| Reserves and Surplus | 183.72 | 341.85 | 311.25 |
| Total Borrowing | 0 | 2.65 | 4.1 |
Key Performance Indicators (As of March 31, 2024)
| KPI | Value |
|---|---|
| ROE | 27.91% |
| ROCE | 36.77% |
| RoNW | 27.91% |
Promoter Holdings
| Pre-Issue | Post-Issue |
|---|---|
| 99.99% | 73.12% |
Objects of the Issue
The company plans to use the funds for:
- Building a content studio and offline training infrastructure
- IT hardware and software procurement
- Content development for course material
- Enhancement of brand visibility and awareness
- Learning Management System (LMS) development
- General corporate purposes
Conclusion
Sodhani Academy of Fintech Enablers Limited offers financial education and consulting services. While the IPO is priced attractively, the company’s financials suggest that this is a high-risk, low-return investment. Investors should carefully evaluate the sustainability of the company’s financial margins before participating in the IPO.