Is CL Educate IPO was fraud?

CL Educate Issue Price was Rs 500 - Rs 502 Per Equity Share, however after listing it never reach to the issue price.
Lot of investor like me suffer lot due to this.
Is CL Educate IPO was fraud??
And what SEBI can do to stop such kinds of frauds??

Any company in education space has not done well so far
Schand is another example

Exchanges are monitoring how funds from ipo are used
Beyond that that’s nothing they can do if ppl feel is not a good bet

But this share never come to the issue price also.
Due to which so many investors lose their money.
SEBI should at least look into the pricing aspect of this IPO.