CL Educate subscribed 1.88 times

The initial public offer of CL Educate, which offers test preparation material and educational content, was oversubscribed 1.88 times at 6 pm on Wednesday, the third and last day of the offer. The offer to raise ₹239 crore, was priced at ₹500-502 a share. Retail investors subscribed 1.59 times to the issue while qualified institutional buyers subscribed 3.64 times. Meanwhile, the ₹350-crore IPO of Shankara Building Products was subscribed 0.51 times at the close of the first day of the offer. On Tuesday, the company had raised ₹104 crore from anchor investors.