CL Educate Ltd fixes IPO price band at Rs 500-502 per share; IPO will open on March 20 and close on March 22, it aims to raise Rs 239 crore.
The issue comprises 47.60 lakh equity shares or about 33.61 per cent. It consists of fresh issue of 21,80,119 shares and an offer for sale of up to 25,79,881 scrips by existing shareholders.
Proceeds of the issue will be used for acquisitions and other strategic initiatives, repayment of loans, to fund working capital requirements and for other general corporate purposes, as per the draft papers.
Kotak Mahindra Capital Company is the sole book running lead manager to the issue. The equity shares are proposed to be listed on the NSE and BSE.
CL Educate Ltd focuses on diverse segments of education, and across learners of multiple age-groups. Led by a team of highly qualified professionals including IIT-IIM alumni, with a passion for excellence in education, CL Educate Ltd has focused on shaping the lives and careers of many students in the twenty years of its existence.
At CL Educate we ‘enable individuals to realize their potential and achieve their dreams’. This is our core ideology and is firmly grounded on our focus on academic excellence, technological innovation, and domain expertise built over close to two decades. In the past 20 years, the CL brand has diversified and established itself as a recognized brand in education sector. We operate across a broad spectrum of segments in the education industry, including test preparation, K-12 education and vocational training.
CL Educate offers test preparation courses and services under the Career Launcher brand, publishing and content development services under the brand GK Publications and event management, marketing support, customer engagement, and managed manpower and training services under the Kestone brand name.
As on September 30, 2015, we had 146 test-prep centers spread over 86 cities in India, 8 K-12 schools spread across 6 cities & 28 vocational training centers and offices. We are committed to delivering quality education to all our students across the various segments mentioned above. As part of our global expansion, we also have test-prep centers operational in the UAE currently. Read more: http://www.cleducate.com/about-us.html
Company Key People:
1. Satya Narayanan R (Chairman and Executive Director)
2. Gautam Puri (Vice Chairman and Managing Director)
3. Nikhil Mahajan (Executive Director and Chief Financial Officer)
4. Gopal Jain (Nominee Director)
|Particulars||For the year/period ended (in Rs. Million)|
|Profit After Tax (PAT)||71.34||49.18||76.59||23.57||67.43||(53.76)|
CL Educate Ltd IPO Issue Detail:
|Issuer||:||CL Educate Ltd|
|Issue Opens||:||The issue opens on March 20, 2017 and closes on March 22, 2017|
|Price band||:||Rs 500 to Rs 502 per equity share|
|Lot size||:||29 equity shares and in multiple thereafter|
|Issue size||:||Up to 4,760,000 equity shares; Rs239 crore.
(fresh issue – 2,180,119 equity shares;
Offer for Sale – 2,579,881 equity shares)
|Issue allocation||:||QIB – 50%; NIB – 15%; Retail – 35%|
|Mode of payment||:||ASBA is mandatory (cheques will not be accepted)|
|BRLMs||:||Kotak Mahindra Capital Company Ltd|
|Registrar||:||Karvy Computershare Pvt Ltd|
|Listing||:||Proposed to be listed on the Bombay Stock Exchange and National Stock Exchange|