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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.
30-03-2017
Bigul

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.
23-03-2017
Bigul

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...
22-03-2017

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.
21-03-2017

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
20-03-2017
Bigul

Tough test ahead for CL Educate

 Presence in non-consumer segments led to higher receivables, stretched working capital requirements
19-03-2017
Bigul

CL Educate: Costly class

 While the company has built a brand in coaching services, the offer is pricey
19-03-2017

CL Educate gets Rs72 crore from anchor investors, ahead of IPO

 CL Educate raised these funds from anchor investors at the upper end of its IPO price band of Rs500-502 per share
17-03-2017
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