Ways2Capital : CL Educate's IPO Gets Subscribed By 0.61x

CL Educate's IPO Gets Subscribed By 0.61x .The issue has total size of 33,32,000 shares. The total bids received stood at 20,21,648; while the total bids received at cut-off price stood at 3,35,501.The CL Educate issue opened on Monday and closes on Wednesday, March 22, 2017 allowing three days for its subscription.

CL Educate offers fresh issue of 47,60,000 equity shares of Rs 10 each, aggregating to Rs 238.95 cr.The stocks of CL Educate with face value of Rs 10 each will be available in the price band of Rs 500 to Rs 502 per equity share.  The minimum order quantity is one market lot, consisting of 29 shares in each lot.

The funds raised by CL Educate through the IPO shall be used to finance its working capital requirements, for acquisitions and other strategic initiatives, as well as payment of its outstanding debt and for general corporate purposes.

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