CL Educate Limited (NSEI:CLEDUCATE) announces a share repurchase program. Under the program, the company will repurchase up to INR 150 million worth of its shares. The purpose of the offer is to return surplus funds to the shareholders, to improve financial ratios like return on equity and thereby enhancing the overall return to the shareholders,and to provide an option to the shareholders to either participate in the buyback and get cash in lieu of their shares or not participate in the buyback and enjoy an increase in their percentage shareholding post the buyback, without additional investment.

The offer price is INR 94 per share. The company has fixed August 14, 2023, as the record date for the purpose of the said Buyback. The plan will be valid till November 28, 2023, or when the company has repurchased an amount equal to maximum buyback size or earlier if determined by the board.

As of August 2, 2023, the company had 5,50,98,536 shares in issue and outstanding.