CL Educate makes a poor debut, lists at 20% discount to issue price

CL Educate, which owns Career Launcher, showcased a weak listing on Friday opening at just Rs 402 per share on BSE, a discount of 20.72 per cent over its issue price at Rs 502 per share.

The company's market capitalisation stood at Rs 564 crore

The company's Initial Public Offer (IPO) which ran during March 20-22, was oversubscribed 1.90 times with the highest demand coming from non-institutional investors.

Incorporated in the year 1996, it has 146 test prep centres in 86 cities throughout India engaged in vocational training courses, recruitment and providing services to corporates.

CL Educate is the fourth company to list on the bourses in 2017, after BSE, D-Mart and Music Broadcast Ltd.