India’s IPO pipeline
Indian test preparation services provider CL Educate filed for an IPO last week. Just over half of the offering will comprise shares held by the promoter and private equity backer Gaja Capital. It should come as welcome respite for the GP – which first invested in CL Educate seven years ago – and provide much needed liquidity for its LPs.
With the S&P BSE Sensex Index up nearly 25% year-to-date, Gaja is one of a number of PE players looking to take portfolio companies public. Of the 13 draft offer documents that have been filed with the...
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