Open Market Through Stock Exchange | ₹15.00 Crores | Listing at BSE, NSE | Mon, Aug 21, 2023 - Tue, Nov 28, 2023
CL Educate Ltd. Buyback is a tender offer for the repurchase of up to equity shares at a buyback price of ₹94 per share with a face value of ₹5 per share, aggregating to ₹15.00 crores.
The buyback opens on Aug 21, 2023 and closes on Nov 28, 2023.
V.B.Desai Financial Services Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and Kunvarji Finstock Pvt. Ltd. is the Registered Broker to the Buyback.
Investors are advised to refer to the CL Educate Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Mon, Aug 21, 2023
Offer Closing Date
Tue, Nov 28, 2023
Buyback Price
₹94 per share
Record Date
[.]
CL Educate Limited's revenue increased by 37.73% and profit after tax (PAT) rose by 63.4% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
| Assets | 372.83 | 347.78 | 351.67 | 421.46 | 493.93 |
| Revenue | 297.71 | 216.16 | 191.91 | 323.92 | 352.50 |
| Profit After Tax | 22.53 | 13.79 | -12.60 | -53.06 | 19.98 |
| Net Worth | |||||
| Reserves and Surplus | 247.24 | 247.48 | 232.82 | 291.68 | 346.98 |
| Total Borrowing | |||||
| Amount in ₹ Crore | |||||
Incorporated in 1996, CL Educate Limited engages in the business of providing educational products and services.
CL Educate has four verticals:
As of August 2021, the company had 200 test-prep centres spread across 100 cities in India. They also operate test-prep centers in the UAE. The company served more than 1 lakh paid customers for the fiscal year that ended March 31, 2021.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 77.90 | 64.10 | 71.72 |
| Jun-2023 | 71.70 | 60.70 | 66.68 |
| May-2023 | 72.09 | 51.91 | 60.63 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 79.00 | 64.05 | 72.14 |
| Jun-2023 | 71.80 | 61.15 | 67.85 |
| May-2023 | 72.20 | 51.75 | 60.02 |
The Buyback is being undertaken for the following reasons
(i) The Buyback will help the Company to return surplus cash to its shareholders holding Equity Shares;
(ii) The Buyback may help in improving return on equity, by reduction in the equity base, thereby leading to an increase in shareholders' value; and
(iii) The Buyback gives an option to the shareholders holding Equity Shares of the Company, who can choose to participate and get cash in lieu of Equity Shares to be accepted under the Buyback offer or they may choose not to participate and enjoy a resultant increase in their percentage shareholding, post the Buyback offer, without additional investment.
CL Educate Ltd.
Plot No. 9A,
Sector - 27A, Mathura Road,
Faridabad - 121003
Faridabad, Haryana, 121003
Lead Manager(s)
Registered Broker
The CL Educate Buyback 2023 opens on August 21, 2023, and closes on November 28, 2023.
The CL Educate Buyback 2023 is a Open Market Through Stock Exchange.
CL Educate Buyback 2023 Schedule
| Buyback Opening Date | August 21, 2023 |
| Buyback Closing Date | November 28, 2023 |
| Last date for acceptance of shares | Upon relevant pay-out by the Stock exchange |
The CL Educate Buyback 2023 is being offered at Rs ₹94 per share.
There is no ratio applicable in case of open market offer through stock exchange mechanism.
The CL Educate Buyback 2023 has announced a buyback for an aggregate amount of not more than Rs. ₹15.00 Crores with pricing of Rs. ₹94 per share.
The Buyback is being undertaken for the following reasons
(i) The Buyback will help the Company to return surplus cash to its shareholders holding Equity Shares;
(ii) The Buyback may help in improving return on equity, by reduction in the equity base, thereby leading to an increase in shareholders' value; and
(iii) The Buyback gives an option to the shareholders holding Equity Shares of the Company, who can choose to participate and get cash in lieu of Equity Shares to be accepted under the Buyback offer or they may choose not to participate and enjoy a resultant increase in their percentage shareholding, post the Buyback offer, without additional investment.
Any equity shareholder holding the shares in Demat form can participate in the buyback offer through their stockbroker. The physical shareholder can participate only once the shares get converted into a Dematerialized form.
The shareholder needs to inform their broker on the details of the Equity shares they wish to sell. The broker will place a sell order whenever the company places a buy order for the buyback. The trade would get executed at the offer price or lesser only when the price offered by the shareholder matches with the buy order placed by the company.
The CL Educate Buyback 2023 offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
