CL Educate Limited – Public Offer to open on Monday, 20th March 2017

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CL Educate Limited – Public Offer to open on Monday, 20th March 2017, and to close on Wednesday, 22nd March 2017

Price Band fixed from Rs. 500 to Rs. 502 per Equity Share.

Mumbai, 14th March, 2017: CL Educate Limited (the “Company” or “Issuer”) proposes to open on Monday, 20th March 2017, an initial public offering of up to 4,760,000 equity shares of face value of Rs. 10 each (the “Equity Shares”) for cash at a premium (the “Offer”) consisting of a fresh issue of 2,180,119 Equity Shares (the “Fresh Issue”) and an offer for sale up to 2,579,881 Equity Shares by the Selling Shareholders including up to 974,000 Equity Shares by certain of the Company’s Promoters and Members of the Promoter Group (the “Offer For Sale”). The Offer will close on Wednesday, 22nd March 2017.

The Price Band for the Offer is fixed from Rs. 500 to Rs. 502 per Equity Share. The Offer will constitute 33.61% of the post Offer paid-up Equity Share capital of the Company.

L to R: V Jaya Sankar (Kotak Mahindra Capital Co. Ltd.), R. Shiva Kumar (Chief Academic Officer, C L Educate Limited), Gautam Puri (Vice Chairman & Managing Director, C L Educate Limited), Satya Narayanan R (Chairman & Executive Director, C L Educate Limited), Nikhil Mahajan (Executive Director & CFO, C L Educate Limited) and Sujit Bhattacharyya (Chief Digital Officer, C L Educate Limited) at the IPO press conference of C L Educate Ltd.

The sole Book Running Lead Manager (“BRLM”) to the Offer is Kotak Mahindra Capital Company Limited.

The Company may, in consultation with the BRLM consider participation by Anchor Investors. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date. The Company in consultation with the BRLM may decide to close the Bid/Offer Period for QIBs one Working Day prior to the Bid/Offer Closing Date. Bids can be made for a minimum of 29 Equity Shares and in multiples of 29 Equity Shares thereafter.

The Offer is being made through the Book Building Process, in compliance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (“SEBI ICDR Regulations”), where 50% of the Offer will be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Category”), provided that our Company may, in consultation with the BRLM allocate up to 60% of the QIB Category to Anchor Investors, on a discretionary basis (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Offer Price. Further, 5% of the QIB Category (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder shall be available for allocation on a proportionate basis to QIBs and Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. Further, not less than 15% of the Offer will be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Offer will be available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All Investors (except Anchor Investors) can participate in this Offer only through the ASBA process.

The Equity Shares offered through the Red Herring Prospectus dated March 8th, 2017 (“RHP”) are proposed to be listed on the National Stock Exchange of India Limited and the BSE Limited.

Satya Narayanan R (Chairman & Executive Director, C L Educate Limited) addresses the media in the presence of (L to R) V Jaya Sankar (Kotak Mahindra Capital Co. Ltd.), R. Shiva Kumar (Chief Academic Officer, C L Educate Limited), Gautam Puri (Vice Chairman & Managing Director, C L Educate Limited), Nikhil Mahajan (Executive Director & CFO, C L Educate Limited) and Sujit Bhattacharyya (Chief Digital Officer, C L Educate Limited) at the IPO press conference of C L Educate Ltd.

Disclaimer:

CL Educate Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares  and has filed a Red Herring Prospectus dated March 8, 2017 with the Registrar of Companies, National Capital Territory of Delhi and Haryana. The RHP will be available on the websites of the SEBI, BSE, NSE at www.sebi.gov.in, www.bseindia.com, www.nseindia.com, respectively and the website of the BRLM at www.investmentbank.kotak.com. Potential investors should note that investment in equity shares involves a high degree of risk and for details refer to the RHP including the section titled “Risk Factors” on page 14 of the RHP.

There is no intention to register any securities referred to in the RHP in the United States or to make any public offering of the securities in the United States. The equity shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India.

Capitalised terms and abbreviations used in this presentation but not defined herein shall have the same meaning as ascribed in the RHP.

CL Educate Limited is a diversified and integrated technology-enabled provider of education products, services, content and infrastructure, with a presence across the education value chain. Since it commenced operations in 1996, it has diversified operations across six business segments, spanning the education value chain: test preparation and training services, generally referred to as “test prep”, conducted under our wellrecognized brand Career Launcher; publishing and content development, conducted under brand GK Publications; integrated business, marketing and sales services for corporates, conducted under brand Kestone, including event management, marketing support (including digital marketing support), customer engagement, managed manpower and training services; vocational training programs implemented by the Company under Government schemes in various States across India; integrated solutions to educational institutions and universities, including business advisory and outreach support services, under its brand CL Media, as well as research incubation and support services conducted under the brand Accendere; and K-12 schools operated under brand Indus World Schools.

 

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