It was on upper circuit yesterday, and again upper circuit today

probably day 1 was hectic as retail investors were busy profit booking

In such cases over time more serious long term investors come in and hold if they have faith in the company

Also some day traders may drive price a bit up or down as companies with smaller stock have more volatility so more scope to make money from intra day swings

We should not read too much into day 1 of trading

Those who are questioning the ipo of this company, first of all you should check the company's growth as it is growing at a healthier rate both in revenue and CAGR profit and i bet on listing day of this ipo, you guys will be bombasted by the listing day gains and further profit which this ipo will provide to it's investers ..

Idk about the IPO but their aggressive marketing is really annoying. Its impossible to play a video on YouTube without that Mukherjee guy telling me how indian lawyers can practice in Canada or some pretentious nonsense like that.

And mods, please don't ban me lol, ik they have a legal team that slaps defamation notices left, right and centre but please show some courage.

KCO does not undercut kiddo. My ex collegues work at BOFA Securities and told me that KCO and CAM bill towards the higher side in IPOs. The only firms undercutting are IndusLaw, Trilegal and SAM; S&R rarely picks up quality IPOs but they are active on the 144A international offerings space. Every difficult Banker in the likes of Ambit, Morgan Stanley or Equirus would prefer KCO or CAM for big ticket work with Indus being in the next tier along with SAM and the likes. Don't bark if you don't know stuff, you seem like someone who just got an internship at Indus.

Buddy, if you are the one who also made the initial comment "they can't afford... filing though" and now commenting this, trust me, you know nothing about cap marks. At best, you are a 2nd - 3rd law student spewing your half baked knowledge on LI under the grab of anonymity.

KCO is not the firm people look for their cap marks shit, it's usually S/CAM, Indus and S&R, then comes KCO JSA and the likes.

S&R too has good IPOs, their recent big shot was Tata Tech where they acted for BRLMs.

And your statement, "Indus however does not disclose itself in the offer docs" in your initial comment is res ipsa loquitur for your knowledge and understanding of cap marks.

Lawsikho has reported 3.25 crores of profit before tax / 2.5 crores profit after tax in 22-23. There would be thousands of small businesses who have profits higher than that and even they won't get listed. Don't understand how is law sikho doing an IPO? That too at a 200 cr valuation? Lamo

Maybeeeee this is a PR strategy and it looks like it is working very well.....damn!

There are several factors at play:

1. Growth rate

2. Potential of future growth

I can see from DRHP that several stalwart investors have invested in pre-IPO including Ramesh Damani

If they are getting listed then that is because a merchant banker was willing to bet on them, and an underwriter was willing to underwrite the issue

And for issue to go through anchor investors (FPI/FII/funds) have to put in money

Narnolia is one of the best in the business - its a 100 year old financial company from Kolkata

They recently got into SME IPOs, their first one was Drone Destination which was a drone pilot education company and it was ab absolute blockbuster after listing- it’s trading 3x higher today 8 months down the line compared to issue price

Narnolia has since then done a bunch of IPOs this year, all have listed with significant gains

The SME IPO market is rocking right now

Given the speed at which it’s getting oversubscribed and given the GMP it should list at a big gain

They were out in the market trying to raise funds for a while. A year plus ago, they were selling the EdTech story but, given Byju's meltdown, I guess no fund went ahead and thus they decided to go down the listing path.

Thier growth over the last few years since they pivoted their business model has admittedly been great, whether they can sustain that over the long term is the bet that the public market investors will be making if they participate in this IPO.

I'm still surprised that a merchant banker has underwritten this IPO.

There are companies, there are law firms, there are businesses. Its surely just another company.

Here are some ideas why this news may be exciting for many lawyers:

1. First company started by NLU grads to do an IPO as far as I can tell

2. Many of us saw Ramanuj and Abhyuday build this startup in front of us - in some ways we feel like we have been part of the journey

3. LawSikho provides a lot of value to the ecosystem, free online and physical events, iPleaders blog, superlawyer, lawsikho youtube channels, regular newsletters - there are a lot of free resources apart from paid courses

4. they have created a way for first generation lawyers to accelerate their career, given confidence to non-NLU grads that they can compete for jobs (there is a youtube channel where they showcase some of their success stories https://www.youtube.com/channel/UCGAO_zN2EvINaQz5eYc5Oww)

5. They have created a way for Indian law students and lawyers to tap into US, UK, Canadian paralegal markets, thats pretty remarkable
6. They are helping Indian lawyers to crack SQE, NCA, California bar exam etc, I think thats very cool

This is what I can think of, no expert on the subject admittedly

a lot of lawyers hate them especially when they have a cloak of anonymity, perhaps because LawSikho says non-NLU grads can beat NLU grads or something like that

Almost right- also promoters selling shares worth 2.2 cr on OFS

Further its likely that share price will jump on listing given that they are doing the IPO on a lower valuation

As you can see on socials, Ramanuj/BRLM has done a good job of promoting it, massive, massive response from investors

Rarely you see 10 anchor investors co investing in an IPO of this size

On top of that QIB section was oversubscribed 7x on day 1, which is a great sign because QIB normally put in money on the last day of IPO, and this one has 2 more working days left starting tomorrow

Do we can expect momentum to get higher from here

And in retail its just frenzy situation, youtubers predicting 2x-3x listing gain, GMP also indicates that

But can this price hold?

A lot depends on what results they declare in march

Give it couple of quarters to know what the true share price will be like

Same goes for your question about Ramanuj and Abhyuday’s net worth

One thing is for sure, all the cofounders (8) will become millionaires going forward not just 2 of them