Test prep and education company CL Educate had a middling listing in the stock markets today, debuting at a share price of Rs. 402 , 20% lower than the company's issue price of Rs. 502. The stock has recovered somewhat and is hovering at around Rs. 420 as of this writing.
Analysts were not bullish about the CL Educate IPO, pointing out the business risks of its strong focus on the test prep segment, and the growing competition in this industry from startups like Byju.