Jainam Wealth recommend 'Avoid' on the CL Educate IPO
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We at Jainam Wealth recommend our investors to “AVOID” to the CL Educate Ltd. IPO considering high competitive industry, dependence on test prep business which contribute 53.32% revenue, subsidiary of company not meet up with compliance of SEBI, granted unsecured loans to other companies & other parties and also available at valuation of 28x at P/E at upper price band.
Price Band Rs.500 - 502. Issue open on 20th March and close to 22nd March. Market Lot 29 Shares.
Jainam Research was incorporated in 2003 with the vision to be the most preferred organization providing all financial services across the country. The foundation is on "Value" Systems - "Value" addition to Corporate, Retails and HNI Individuals through superior Wealth Creation Practices.
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- CL Educate IPO: Looks expensive at current level; HEM Securities recommend to 'Avoid'
- IPO note: CL Educate Limited
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