C L Educate is coming out with an initial public offering (IPO) to raise up to Rs 239 crore in a price band Rs 500-502 per equity share. The issue will open on March 20, 2017 and will close on March 22, 2017. The shares will be listed on the BSE and NSE.
The company will use the issue proceeds for funding working capital requirement of the company, acquisitions and other strategic initiatives, pre-payment of outstanding amount of a debt and for other general corporate purposes. The book running lead manager to the issue is Kotak Mahindra Capital Company.
CL Educate is one of Asia's leading edu-corporates, with focus on diverse segments of education, and across learners of multiple age-groups. Led by a team of IIT-IIM alumni, with a passion for excellence in education, the company has shaped the lives and careers of lakhs of students in the eighteen years of its existence.