Education services provider CL Educate made a poor debut in Stock Market. Experts said that the key reason behind this is expensive valuation.
The stock listed at Rs 398 on the BSE, a 20.7% discount to the issue price of Rs 502, before closing at Rs 417.90, or down 16.7%.
CL educate is the fourth company that was added to courses this year and CL Educate is the only company to list at a discount.
CL educate is the owner of the popular institute, Career Launcher and it has 146 test prep centers in 86 cities throughout India engaged in vocational training courses, recruitment and providing services to corporates.
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