Bookbuilding IPO | ₹239 Cr | Listed at BSE, NSE | Mon, Mar 20, 2017 - Wed, Mar 22, 2017
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 per share. The lot size for an application is 29. The minimum amount of investment required by an retail is ₹14,558 (29 shares) (based on upper price). 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 Open
Mon, Mar 20, 2017
IPO Close
Wed, Mar 22, 2017
Issue Price
₹502 per share
Market Cap (Pre-IPO)
₹711.00 Cr
| IPO Date | 20 to 22 Mar, 2017 |
| Listed on | Fri, Mar 31, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹500 to ₹502 |
| Issue Price | ₹502 per share |
| Lot Size | 29 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 47,60,000 shares (agg. up to ₹239 Cr) |
| Fresh Issue | 21,80,119 shares (agg. up to ₹109 Cr) |
| Offer for Sale | 25,79,881 shares of ₹10 (agg. up to ₹130 Cr) |
| Share Holding Pre Issue | 1,19,83,159 shares |
| Share Holding Post Issue | 1,41,63,278 shares |
| BSE Script Code / NSE Symbol | 540403 / CLEDUCATE |
| ISIN | INE201M01011 |
CL Educate IPO comprises a total issue size of 47,60,000 shares. Out of which, 23,80,000 (50.00%) are allocated to QIB, 7,14,000 (15.00%) allocated to NII 16,66,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max 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% |
Investors can bid for a minimum of 29 shares and in multiples thereof.
| 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 |
CL Educate IPO raises ₹71.69 crore from anchor investors. CL Educate IPO Anchor bid date is March 17, 2017.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Mar 17, 2017 |
| Shares Offered | 14,28,000 |
| Anchor Portion (₹ Cr.) | 71.69 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Apr 28, 2017 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Jun 27, 2017 |
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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
The CL Educate IPO is subscribed 1.9 times on March 22, 2017 5:45:00 PM (Day 3). The public issue subscribed 1.63 times in the retail category, 3.65 times in the QIB category, and 0.21 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 3.65 | 9,52,000 | |
| NII | 0.21 | 7,14,000 | |
| Retail | 1.63 | 16,66,000 | |
| Total | 1.9 | 33,32,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Manager | 8.24 |
| 2 | Advertising and marketing expenses | 3.69 |
| 3 | Fees payable to the Registrar | 0.11 |
| 4 | Brokerage and selling commission payable to SCSBs, Registered Brokers, RTAs and CDPs, as applicable | 0.48 |
| 5 | Processing fees to SCSBs for ASBA Applications procured by the members of the Syndicate or Registered Brokers and submitted with the SCSBs or procured by Registered Brokers, RTAs or CDPs and submitted with the SCSBs | 0.06 |
| 6 | Others (listing fees, legal fees, etc.) | 5.71 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹502.00 | ₹502.00 |
| Open | ₹398.00 | ₹402.00 |
| Low | ₹398.00 | ₹402.00 |
| High | ₹417.90 | ₹422.10 |
| Last Trade | ₹417.90 | ₹422.10 |
Lead Manager Reports
CL Educate IPO is a main-board IPO of 47,60,000 equity shares of the face value of ₹10 aggregating up to ₹239 Crores. The issue is priced at ₹502 per share. The minimum order quantity is 29.
The IPO opens on Mon, Mar 20, 2017, and closes on Wed, Mar 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 Mon, Mar 20, 2017 and closes on Wed, Mar 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 Thu, Mar 30, 2017. Check the CL Educate IPO allotment status.
The CL Educate IPO listing date is on Fri, Mar 31, 2017.
