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Career Launcher parent inks deal to sell pre-and K-12 schools biz

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Education services company CL Educate Ltd, which floated its initial public offering (IPO) on Monday, has signed an agreement to sell its portfolio of pre- and K-12 schools to another education services company, it is learnt. Best known for its test prep brand Career Launcher, Gaja Capital-backed CL Educate offers a range of education related services. The company plans to use money from the IPO to meet working capital requirements and repay debt of its subsidiary Career Launcher Infrastructure Pvt Ltd. It has also earmarked some money for acquisitions and strategic initiatives as well as for general corporate purposes. Career...

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