Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Education / News/  CL Educate IPO to open on 20 March at a price band of Rs500-502 apiece
BackBack

CL Educate IPO to open on 20 March at a price band of Rs500-502 apiece

CL Educate operates across segments in the education industry including test preparation, K-12 and vocational training

The issue comprises 47.60 lakh equity shares or about 33.61%. It consists of fresh issue of 2,180,119 shares and an offer for sale of up to 2,579,881 scrips by existing shareholders.Premium
The issue comprises 47.60 lakh equity shares or about 33.61%. It consists of fresh issue of 2,180,119 shares and an offer for sale of up to 2,579,881 scrips by existing shareholders.

New Delhi: C L Educate on Tuesday fixed price band of Rs500-502 per share for its upcoming initial public offer (IPO) through which it aims to raise Rs239 crore.

The IPO will open on 20 March and close on 22 March, said the company which operates across segments in the education industry including test preparation, K-12 and vocational training.

The issue comprises 47.60 lakh equity shares or about 33.61%. It consists of fresh issue of 2,180,119 shares and an offer for sale of up to 2,579,881 scrips by existing shareholders. At the upper end of the price band, the company would raise Rs238.95 crore.

Proceeds of the issue will be used for acquisitions and other strategic initiatives, repayment of loans, to fund working capital requirements and for other general corporate purposes, as per the draft papers. Kotak Mahindra Capital Company is the sole book running lead manager to the issue. The equity shares are proposed to be listed on the NSE and BSE.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Education News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 14 Mar 2017, 03:18 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App