CL Educate lists at 20 per cent discount on Friday
DSIJ Intelligence / 31 Mar 2017
CL Educate's stock listed on Friday at Rs 402 per share versus issue price of Rs 502 per share, thus listing at a discount of 20 per cent to its issue price.
CL Educate's stock listed on Friday at Rs 402 per share versus issue price of Rs 502 per share, thus listing at a discount of 20 per cent to its issue price.
A Delhi-based education services provider, CL Educate, had processed its initial public offer (IPO) last week.
CL Educate’s IPO was oversubscribed 1.90 times when it was completed, with qualified institutional buyers (QIBs) section being oversubscribed 3.65 times and retail investors 1.63 times. The ‘non-institutional investor’ portion was subscribed only with 21 per cent.
The IPO was open from March 20-22, and included a fresh issue of 21.80 lakh shares, and offer for sale of
The stock listed at a discount of 20.72 per cent at Rs 398 per share in pre-opening session on Friday.
After listing at Rs 402, the stock was trading at Rs 417.19 per share, down by 16 per cent or Rs 84.10 as compared to issue price, at the time of filing the report.
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