CL Educate to make stock market debut tomorrow

NEW DELHI, Mar 30:  CL Educate, which completed initial public offer (IPO) last week, will make the stock market debut tomorrow.
The company’s IPO was oversubscribed 1.90 times, with qualified institutional buyers (QIBs) category getting oversubscribed 3.65 times and retail investors 1.63 times.
The ‘non-institutional investor’ portion was subscribed only 21 per cent.
CL Educate, which operates across segments in the education industry, including test preparation and vocational training, had fixed a price band of Rs 500-502 for the IPO.
The IPO, which was open from March 20-22 comprised a fresh issue of 21.80 lakh shares and offer for sale of up to 25.79 lakh shares.
Kotak Mahindra Capital Company was the book running lead manager for the offer. (PTI)

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