IPO Issue Details
Issue Price / Price Band₹502 per share (Fixed Price)
Face Value₹10 Per Share
Lot Size29 Shares per Lot
Total Issue Size47,60,000 shares (aggregating up to ₹238.95 Cr)
Issue TypeBookbuilding IPO
Sale Type / CategoryFresh Capital-cum-Offer for Sale
Exchange / PlatformNSE & BSE
IPO TypeMainboard
Subscription OpenMon, 20 Mar 2017
Subscription CloseWed, 22 Mar 2017
Anchor AllotmentFri, 17 Mar 2017
Basis of AllotmentWed, 29 Mar 2017
Initiation of RefundsWed, 29 Mar 2017
Credit of Shares to DematThu, 30 Mar 2017
Listing DateFri, 31 Mar 2017
UPI Mandate Deadline2017-03-22
Application & Investment Details
Retail — Min (1 Lots)₹14,558 — 29 shares
Retail — Max (13 Lots)₹189,254 (13 Lots)
HNI — Min (14 Lots)₹2,03,812 — 406 shares
Pre-IPO Promoter Holding1,19,83,159 shares
Post-IPO Promoter Holding1,41,63,278 shares
Fresh Issue Shares21,80,119 shares (aggregating up to ₹109.44 Cr)
Offer for Sale Shares25,79,881 shares of ₹10 (aggregating up to ₹129.51 Cr)
About CL Educate Ltd.
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.
Objects of the Issue
CL Educate Ltd. proposes to utilise the net proceeds from the Issue for the following objects:
1
1 Funding working capital requirements of the Company and the Subsidiaries, GKP and Kestone
52.50
2
2 Pre-payment of outstanding amount of a debt facility availed of by the Subsidiary, CLIP
18.60
3
3 Acquisitions and other strategic initiatives
20.00
4
4 General corporate purposes
9.96
Shareholding & Lock-in
Pre-IPO Promoter Holding
1,19,83,159 shares
Post-IPO Promoter Holding
1,41,63,278 shares
Lock-in Period (30%)April 28, 2017
Lock-in Period (50%)June 27, 2017