CL Educate raises Rs 72 cr via anchor allotment

CL Educate, a diversified and integrated technology-enabled provider of education products, services, content and infrastructure, has raised Rs 71.69 crore via anchor investors.

According to a release issued, CL Educate issued 14.28 lakh shares to anchor investors at Rs 502 per share, the upper end of the price band, totalling to Rs 71.69 crore. The anchor investors include HDFC Mutual Fund, DSP Blackrock, Sundaram MF, Canara HSBC OBC Life Insurance, HDFC Standard Life, Principal MF, ICICI Lombard General Insurance, Ocean Dial Gateway and Ashoka.

CL Educate is planning an IPO of up to 47.6 lakh shares, consisting of a fresh issue of 21.8 lakh shares and an offer for sale of up to 25.79 lakh shares. The price band for the offer is fixed from Rs 500 to Rs 502 per share. The offer will constitute 33.61% of the post offer paid-up equity share capital of the company. Kotak Mahindra Capital Company is the sole book running lead manager to the issue which opens on March 20 and closes on March 22.

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