CL Educate defers IPO plans

CL Educate, a leading education services company spanning coaching, vocational training, publishing and K12 schools, announced the postponement of their plans to go public on account of strategic opportunities.

CL educate which had filed the DRHP in the month of September 2014 informed SEBI about the development and has requested to withdraw the DRHP.

Mr. Nikhil Mahajan, founding member and an Executive Director, CL Educate said “Our proposed acquisition will need infusion of private equity which will alter the capital structure.  We also intend to restructure and consolidate some of the subsidiaries before we re-file any updated DRHP with SEBI for IPO“.