Outcome of Board Meeting
The Board of Directors of the Company at its meeting held today i.e. Wednesday, April 12th, 2017 at 12:30 PM, at the Registered Office of the Company, inter alia, considered and approved the following: 1. Acquisition of (the balance) 49% stake in the Equity Shares of Accendere Knowledge Management Services Private Ltd., making it a Wholly-Owned Subsidiary Company; and 2. Definitive Agreement with respect to the acquisition of ETEN Test Prep...
CL Educate's weak listing reinforces investing basics
No matter how buoyant the markets are, the weak listing reinforces the importance of investment basics such as price in conjunction with sector risks, say analysts Cl Educate has a lacklustre listing on stock markets
Test prep and education company CL Educate had a middling listing in the stock markets today, debuting at a share price of Rs. 402 , 20% lower than the company's issue price of Rs. 502. The stock has recovered somewhat and is hovering at around Rs. 420 as of this writing. Analysts were not bullish about the CL Educate IPO, pointing out the business risks of its strong focus on the test prep segment, and the growing competition in this industry from startups like Byju. Listing of equity shares of CL Educate Ltd
Trading Members of the Exchange are hereby informed that effective from March 31, 2017, the equity shares of CL Educate Ltd (Scrip Code: 540403) are listed and admitted to dealings on the Exchange in the list of 'T' Group Securities. For further details please refer to the notice no 20170330-54 dated March 30, 2017.
Cl Educate shares debut tomorrow
CL Educate, which owns the Career Launcher brand and whose IPO had completed last week, will make its stock market debut tomorrow. The company’s IPO was subscribed 1.9x times, with qualified institutional buyers (QIBs) category getting oversubscribed 3.65 times and retail investors 1.63 times. However the ‘non-institutional investor’ portion was subscribed only 21%. Analysts had given the CL Educate IPO mixed ratings, with ICICI Securities for example, issuing an AVOID rating. The company's Career Launcher test preparation business accounts for over 45% of the company's revenues, making its balance sheet highly vulnerable to policy changes in entrance test examinations or a crackdown by the government on the test prep industry. CL Educate: Will it ride the current IPO wave?
The initial public offering (IPO) of CL Educate, an integrated, technology-enabled education provider, was oversubscribed 1.9 times on the last day of the offer today. CL Educate subscribed 1.88 times
The initial public offer of CL Educate, which offers test preparation material and educational content, was oversubscribed 1.88 times at 6 pm on Wednesday, the third and last day of the offer. The...
Not much enthusiasm for CL Educate IPO from analysts
CL Educate - which owns the brand Career Launcher - launched its IPO issue on March 20, and is available for subscription until tomorrow. The company aims to raise Rs 239 crore from the issue, which is priced at a band of Rs 500-502. Analysts however, are not bullish about this issue. ICICI Securities for example, has issued an AVOID rating, and noted that the company's Career Launcher test preparation business accounts for over 45% of the company's revenues. Colleges and institute authorities have been trying to clamp down on the test prep business to discourage over-preparation and the large spends students and parents invest in entrance exam classes and training. Any changes in education policy, consequently, would impact the Career Launcher business and open it to new competition. In addition, the IPO may be too pricey for its segment. CL Educate's IPO price offer discounts the company’s TTM earnings by 25 times, more expensive than MT Educare which trades at about 17 times its TTM earnings.
CL Educate IPO subscribed 37% on Day 1
The CL Educate IPO received bids for 12,18,348 shares against the total issue size of 33,32,000 shares, data available with NSE shows Tough test ahead for CL Educate
Presence in non-consumer segments led to higher receivables, stretched working capital requirements