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CL Educate IPO Oversubscribed by 1.90 times

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CL Educate Initial Public Offering was open from 20 March 2017 to 22nd March  2017. The Company CL Educate is expected to raise Rs 239 crore at the upper end of its price band of Rs 500-502. The market lot of the issue was 29 stocks and the minimum investment amount was 14,558 Rs only.

CL Educate raised about Rs72 crore from anchor investors, including DSP Blackrock MicroCap Fund, Sundaram Mutual Fund, Canara HSBC, Oriental Bank of Commerce, Life Insurance Co. Ltd and ICICI Lombard General Insurance Co, ahead of the IPO last week.

At the upper end, the offer can fetch up to Rs 239 crore. Kotak Mahindra Capital Company is the book running lead manager for the offer. The IPO closes on Wednesday and it was subscribed 1.90 times.  The below table shows the Issue Subscription details given by the exchanges.

Issue Subscription Detail / Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & Time QIB NII RII Total
Shares Offered / Reserved 952,000 714,000 1,666,000 3,332,000
Day 1 – Mar 20, 2017 17:00 IST 1.0400 0.0000 0.1400 0.3700
Day 2 – Mar 21, 2017 17:00 IST 1.9700 0.0400 0.4000 0.7700
Day 3 – Mar 22, 2017 17:45 IST 3.6500 0.2100 1.6300 1.9000

Abhishek Vohera

I am Software Engineer and Stock Market Enthusiast. Expert in Algo Trading, sharing valuable insights on Above Stocks. Combines technological expertise with a keen financial understanding.View Author posts

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