March 31, 2017 / 5:53 AM / 5 months ago

BUZZ-India's CL Educate slumps on market debut

** Education services provider CL Educate Ltd slides as much as 20.72 pct to 398 rupees from its IPO price of 502 rupees

** The company's up to 2.4 billion-rupee IPO that closed on March 22 was subscribed 1.9 times - BSE data (bit.ly/2nCt3fY)

** Significant dependence on test prep business is a risk factor for co, inability to hire and retain qualified, experienced faculty can have severe impact on co's business - Centrum Wealth Research

** Rivals MT Educate is down 29.9 pct so far this year after a 35.9 pct fall in 2015; Career Point down 2 pct in the year

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