 "CL Educate makes poor debut; ends 17% below its IPO price")
CL Educate made a tepid debut on the bourses by
listing at Rs 398 on the BSE, 21% below its initial public offer (IPO) price of Rs 502. CLICK HERE FOR DETAILS
The stock settled at Rs 418, down 18% on the BSE.
On the National Stock Exchange (NSE), the stock ended at Rs 422 after opening at Rs 402, down 20% against the issue price.
The IPO of CL Educate was subscribed by 1.9 times. It received bids for 6.33 million shares compared to 3.32 million shares on offer. The company has fixed issue price at the top end of the price band of Rs 500-502 per share.
CL Educate focuses on diverse segments of education, and across learners of multiple age-groups. The company operates across a broad spectrum of segments in the education industry, including test preparation, K-12 education and vocational training.
listing at Rs 398 on the BSE, 21% below its initial public offer (IPO) price of Rs 502. CLICK HERE FOR DETAILS
The stock settled at Rs 418, down 18% on the BSE.
On the National Stock Exchange (NSE), the stock ended at Rs 422 after opening at Rs 402, down 20% against the issue price.
The IPO of CL Educate was subscribed by 1.9 times. It received bids for 6.33 million shares compared to 3.32 million shares on offer. The company has fixed issue price at the top end of the price band of Rs 500-502 per share.
CL Educate focuses on diverse segments of education, and across learners of multiple age-groups. The company operates across a broad spectrum of segments in the education industry, including test preparation, K-12 education and vocational training.
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