Jainam Wealth recommend 'Avoid' on the CL Educate IPO

Jainam Research | July 13, 2015, midnight


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.

 

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