21-Aug-2023
2 mins read
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CL Educate Ltd. has unveiled plans to buy back its completely paid equity shares, a move aimed at amplifying shareholder value and refining its capital framework. The company has allocated a budget of up to Rs 15 crores for this initiative, with each share priced at a maximum of Rs 94. The intention is to acquire no more than 15,95,744 shares at this rate. The buyback operation will start on August 21, 2023, and be wrapped up till November 28, 2023, or on the compilation of the buyback is complete, subject to particular conditions. The firm has pledged a minimum buyback amount of Rs 11.25 crores, representing at least 75% of the total buyback budget. In line with regulatory requirements, they will also ensure that a minimum of Rs 6 crores, or 40% of the allocated amount, is spent within the initial half of the designated buyback duration.
Company Details of CL Educate Limited
Founded in 1996, CL Educate Ltd. delivers educational products and services across a range of segments. Here’s a breakdown of their four main sectors:
- Test Preparation for Consumers: Known by its brand, Career Launcher, the firm addresses the competitive test-preparation landscape, which includes areas such as MBA, Law, Banking, SSC, and courses related to Engineering, Medical, and Civil Services. Additionally, they offer tuition for students in grades VIII-XII, international education exams like GRE/GMAT, and specialized courses in subjects like Data Science and CFA.
- Consumer Publishing: Operating under G K Publications Pvt Ltd, the company ventures into consumer publishing across three categories: Technical, Non-Technical, and School Business.
- Corporate Enterprise Services: With Kestone Integrated Marketing Services as its brand, the firm provides an array of services to businesses, ranging from Experiential Marketing and Digital Communication services to Custom Engagement Programs and Strategic Business Solutions. They also have a Virtual Events Platform among their offerings.
- Institutional Enterprise: CL Educate Ltd- Institutional Division works with educational establishments and universities throughout India. Their focus is on furnishing integrated solutions such as advisory services and outreach initiatives, aiming to enhance both student enrollment and the overall results of these institutions.
By August 2021, CL Educate boasted 200 test-preparation centres located in 100 cities within India and extended its presence to the UAE with additional test-prep facilities. In the fiscal year concluding in March 2021, they catered to over 100,000 paying clients.
CL Educate Limited Buyback 2023 Detail
| CL Educate Buyback Dates | 21 August – 28 November 2023 |
| CL Educate Buyback Maximum Price | Rs 94 per share |
| Market Price on Buyback Approval | Rs 76.79 per share |
| Buyback Premium on Market Price | 22.41% |
| Buyback Offer Size (Minimum Shares) | 15,95,744 share |
| Buyback Offer Size (Maximum Amount) | Rs 15 crore |
| Offer Type | Open Market (Stock Exchange) |
| Promoter Participation | No |
| Face Value | Rs 5 per share |
| Listing At | BSE, NSE |
Company Financials (In Crore) of CL Educate Limited
| Period Ended | 31-Mar-19 | 31-Mar-20 | 31-Mar-21 | 31-Mar-22 | 31-Mar-23 |
| Assets | 493.93 | 421.46 | 351.67 | 347.78 | 372.83 |
| Revenue | 352.5 | 323.92 | 191.91 | 216.16 | |
| Profit After Tax | 19.98 | -53.06 | -12.6 | 13.79 | |
| Net Worth | |||||
| Reserves and Surplus | 346.98 | 291.68 | 232.82 | 247.48 | 247.24 |
The Objective of CL Educate Limited Buyback
The objectives of CL Educate Limited Buyback are yet to be announced.
Lead Managers for CL Educate Limited Buyback
V B Desai Financial Services Limited
Registered Broker for CL Educate Limited Buyback
Kunvarji Finstock Pvt Ltd
How to Apply for CL Educate Limited Buyback
Wait for the buyback to open for subscription, then click on this link to apply for the CL Educate Limited Buyback with Bigul https://www.bonanzaonline.com/.
How to Check the Allotment Status of CL Educate Limited Buyback
The registrar for CL Educate Limited Buyback isKfin Technologies Limited. To check your allotment status, please click on this link https://kosmic.kfintech.com/ipostatus/
FAQs
- What is the CL Educate Limited Buyback?
CL Educate Ltd is planning to buy back its fully paid equity shares to enhance shareholder value and optimize its capital structure.
- When does the buyback start and end?
The buyback is set to commence on August 21, 2023, and conclude on November 28, 2023, or upon the completion of the buyback, depending on specific conditions.
- What is the maximum price per share for this buyback?
The maximum price set for the buyback is Rs 94 per share.
- What is the amount that is allocated for the buyback?
The company has earmarked up to Rs 15 crores for this initiative.
- What is the company’s business?
Founded in 1996, CL Educate Ltd. offers educational products and services across various segments like test preparation, consumer publishing, corporate enterprise services, and institutional enterprise.
- Where can I apply for the CL Educate Limited Buyback?
You can apply for the buyback once it opens for a subscription via this link: https://www.bonanzaonline.com/.
- How can I check my allotment status for the buyback?
The registrar for the buyback is Kfin Technologies Limited. You can check the allotment status by clicking on this link https://kosmic.kfintech.com/ipostatus/
- Who are the lead managers and registered brokers for the buyback?
The lead managers are V B Desai Financial Services Limited, and the registered broker is Kunvarji Finstock Pvt Ltd.
- Where is CL Educate Ltd listed?
CL Educate Ltd. is listed on BSE and NSE.
- How many shares is the company planning to buy back?
The intention is to acquire no more than 15,95,744 shares.
- What are the objectives of the CL Educate Limited Buyback?
The exact objectives of the buyback are yet to be announced.