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CL Educate IPO is a book build issue of ₹238.95 crores. The issue is a combination of fresh issue of 0.22 crore shares aggregating to ₹109.44 crores and offer for sale of 0.26 crore shares aggregating to ₹129.51 crores.
CL Educate IPO bidding started from Mar 20, 2017 and ended on Mar 22, 2017. The allotment for CL Educate IPO was finalized on Mar 29, 2017. The shares got listed on BSE, NSE on Mar 31, 2017.
CL Educate IPO price band is set at ₹502.00 per share . The lot size for an application is 29. The minimum amount of investment required by an retail is ₹14,500 (29 shares). The lot size investment for sNII is 14 lots (406 shares), amounting to ₹2,03,812, and for bNII, it is 69 lots (2,001 shares), amounting to ₹10,04,502.
Kotak Mahindra Capital Co.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to CL Educate IPO RHP for detailed Information.
| IPO Date | March 20, 2017 to March 22, 2017 |
| Listing Date | March 31, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹500 to ₹502 per share |
| Issue Price Final | ₹502 per share |
| Lot Size | 29 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 47,60,000 shares (aggregating up to ₹238.95 Cr) |
| Fresh Issue | 21,80,119 shares (aggregating up to ₹109.44 Cr) |
| Offer for Sale | 25,79,881 shares of ₹10 (aggregating up to ₹129.51 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 1,19,83,159 shares |
| Share Holding Post Issue | 1,41,63,278 shares |
CL Educate IPO offers total 47,60,000 shares. Out of which 23,80,000 (50.00%) allocated to QIB, 9,52,000 (20.00%) allocated to QIB, 7,14,000 (15.00%) allocated to NII, 16,66,000 (35.00%) allocated to RII and 14,28,000 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 23,80,000 (50.00%) | NA |
| − Anchor Investor Shares Offered | 14,28,000 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 9,52,000 (20.00%) | NA |
| NII (HNI) Shares Offered | 7,14,000 (15.00%) | NA |
| Retail Shares Offered | 16,66,000 (35.00%) | 57,448 |
| Total Shares Offered | 47,60,000 (100.00%) |
CL Educate IPO opens on March 20, 2017, and closes on March 22, 2017.
| IPO Open Date | Mon, Mar 20, 2017 |
| IPO Close Date | Wed, Mar 22, 2017 |
| Tentative Allotment | Wed, Mar 29, 2017 |
| Initiation of Refunds | Wed, Mar 29, 2017 |
| Credit of Shares to Demat | Thu, Mar 30, 2017 |
| Tentative Listing Date | Fri, Mar 31, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Mar 22, 2017 |
Investors can bid for a minimum of 29 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 29 | ₹14,558 |
| Retail (Max) | 13 | 377 | ₹1,89,254 |
| S-HNI (Min) | 14 | 406 | ₹2,03,812 |
| S-HNI (Max) | 68 | 1,972 | ₹9,89,944 |
| B-HNI (Min) | 69 | 2,001 | ₹10,04,502 |
Incorporated in 1996, CL Educate Ltd is engaged in providing various educational products and services. They operates through two segments, Education and Training Programme (Including Sale of Study Material) and Vocational Training.
The Company's Education and training program (including sale of study material) segment includes coaching for higher education entrances. The Company's Vocational training segment includes specific projects undertaken (including government projects).
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.
They also provides integrated solutions to educational institutions and universities, including business advisory and outreach support services under the CL Media brand, as well as research incubation and support services under the brand Accendere brand. In addition, the company operates K-12 schools under the Indus World School brand name. As on September 30, 2015, they 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.
| Particulars | For the year/period ended (in Rs. Million) | |||||
|---|---|---|---|---|---|---|
| 30-Sep-16 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | 31-Mar-12 | |
| Total Assets | 3852.74 | 3789.34 | 3253.44 | 1838.88 | 1782.94 | 1707.98 |
| Total Revenue | 894.46 | 1738.46 | 1558.47 | 1247.42 | 1355.23 | 1021.74 |
| Profit After Tax (PAT) | 71.34 | 49.18 | 76.59 | 23.57 | 67.43 | (53.76) |
The Company CL Educate IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Funding working capital requirements of the Company and the Subsidiaries, GKP and Kestone | 52.50 |
| 2 | Pre-payment of outstanding amount of a debt facility availed of by the Subsidiary, CLIP | 18.60 |
| 3 | Acquisitions and other strategic initiatives | 20.00 |
| 4 | General corporate purposes | 9.96 |
[Dilip Davda] Education sector is attracting fancy off late and hence, investors may consider investment for medium to long term. Read detail review...
| Listing Date | March 31, 2017 |
| BSE Script Code | 540403 |
| NSE Symbol | CLEDUCATE |
| ISIN | INE201M01011 |
| Final Issue Price | ₹502 per share |
| BSE Listing Group | T |
CL Educate Ltd.
A-41, Espire Building, Lower Grd Flr,
Mohan Co-operative Industrial Area,
Main Mathura Road, New Delhi - 110 044
Delhi, New Delhi
Phone: +91-11-45070311
Email: compliance@cleducate.com
Website: http://www.cleducate.com
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email:
Website: https://ipostatus.kfintech.com/
CL Educate IPO is a main-board IPO of 47,60,000 equity shares of the face value of ₹10 aggregating up to ₹238.95 Crores. The issue is priced at ₹502 per share. The minimum order quantity is 29.
The IPO opens on March 20, 2017, and closes on March 22, 2017.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in CL Educate IPO using UPI as a payment gateway. Zerodha customers can apply in CL Educate IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in CL Educate IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The CL Educate IPO opens on March 20, 2017 and closes on March 22, 2017.
CL Educate IPO lot size is 29, and the minimum amount required for application is ₹14,558.
You can apply in CL Educate IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for CL Educate IPO will be done on Wednesday, March 29, 2017, and the allotted shares will be credited to your demat account by Thursday, March 30, 2017. Check the CL Educate IPO allotment status.
The CL Educate IPO listing date is on Friday, March 31, 2017.
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