Gaja Capital Partially Exits CL Educate in IPO for US$4.7 Million (Asia)
Posted On: 31 Mar 2017 | Source(s): National Stock Exchange, VCCircle | Author(s): Ankit Doshi
India-focused private equity firm Gaja Capital Partners has partially exited India-based educational services and skills training company CL Educate via the company’s IPO on the Bombay Stock Exchange and National Stock Exchange, which raised INR2.4 billion (approximately US$37 million) at an offer price of INR502 (approximately US$7.73) per share. Gaja sold 605,000 of its 1.8 million shares in the company for a total of INR304 million (approximately US$4.7 million). CL Educate operates test preparation centers, schools and vocational training centers and provides various business training services. Gaja originally invested in CL Educate in 2007 through Gaja Capital Partners I.