CL Educate Ltd Share Price

History of CL Educate Ltd

CL Educate Limited was incorporated in New Delhi, as 'Career Launcher (India) Private Limited' on April 25, 1996, with the Registrar of Companies. The Company converted to a Public Limited Company, and the name was changed to 'Career Launcher (India) Limited', and a fresh Certificate of Incorporation dated June 17, 2000, issued by the Registrar of Companies. Pursuant to a resolution of the shareholders dated February 28, 2011, the name further was changed to 'CL Educate Limited' vide certified dated March 18, 2011, issued by the Registrar of Companies. The company commenced its business operation in 1996 to conduct various educational and consulting programmes. The Company is providing education and test preparation training programmes which include tuition to school students and coach ...ing to aspirants for a variety of entrance examinations both at the school and graduate / post graduate levels. It operates in two segments namely Consumer Services and Enterprise Services. It emerged as a market leader in its core consumer and enterprise focused businesses and continues to entrench itself with multiple product offerings across physical and digital channels of delivery. Consumer Services includes the businesses of Test Preparation and Training (Test Prep), Publishing and Content Development & Campus Recruitment Training (CRT) program whereas Enterprise Services includes integrated solutions for Corporates and Educational Institutions & Universities. Under the Enterprise Services, the company offers integrated solutions to educational institutions and universities across India, Student recruitment services, Research & Incubations services through its brands CL Media and Accendere and Career Development Center. Under the same segment, company offers services to Corporates under the brand Kestone. For the corporate sector, the company offers integrated Sales & Marketing Services, Digital & MarComm Services, Customized Engagement Programs (CEP) and Manpower Management & Training. In March 2017, the Company came up with a Public Issue of 4,760,000 Equity Shares by raising equity funds from public aggregating to Rs 238.95 Crores comprising a Fresh Issue of 2,180,119 Equity Shares aggregating Rs 109.44 Crore and an Offer for Sale of 2,579,881 Equity Shares aggregating Rs 129.51 Crore. In April 2017, the company acquired ETEN, the test preparation business division of Pearson's IndiaCan Education. ETEN is a pioneer in tech-based satellite coaching for Chartered Accountant (CA) and Civil services (IAS). The company also completed 100% acquisition of Accendere Knowledge Management Services (AKMS), a knowledge management company specializing in incubating research programs for universities and corporates and consulting for admissions abroad. CL Educate had initially acquired 51% stake in AKMS in September 2015 and acquired the balance 49% between April 2017 and November 2017. In 2017, the company acquired 50.7% stake in ICE GATE, and ICE GATE became a subsidiary of the Company with effect from October 31, 2017. The Company launched Virtual Events Platform in FY 2021 to host events conducted by corporates. In 2021-22, the Scheme of Amalgamation of five Wholly Owned Subsidiary Companies of CL Educate Limited - Career Launcher Education Infrastructure and Services Limited ('CLEIS'), CL Media Private Limited ('CLM'), Accendere Knowledge Management Services Private Limited ('AKMS'), G.K. Publications Private Limited ('GKP') and Kestone Integrated Marketing Services Private Limited with the Company became effective from 05 March 2022. The Company launched Student Mobility as a new line of business in 2022. With the Merger of Kestone Integrated Marketing Services Private Limited into the Company, Kestone CL Asia Hub Pte. Ltd., which was earlier a wholly owned subsidiary of Kestone and a step-down subsidiary of the Company, became a direct wholly owned subsidiary of the Company effective from March 13, 2023.