Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stock Report

| More

Zee Learn Ltd to acquire MT Educare Ltd

Posted On: 2018-02-16 23:27:53

Zee Learn Limited, India's leading Education Company with India's most trusted Diversified Education Brands, announced that it has signed definitive agreements to:

- Invest Rs. 200 crores in MT Educare Limited through a preferential allotment of equity shares (face value Rs.10/- per share) for a stake of 44.53% in the expanded share capital of MT Educare Limited.

- The execution of definitive agreements has triggered the requirement to make an Open Offer and the regulations therewith will be complied.

The transaction is subject to the fulfillment of customary closing conditions and the requisite statutory and regulatory approvals.

Commenting on the transaction, Mr. Debshankar Mukhopadhyay, CEO, Zee Learn Ltd said, "We are excited to announce the Board's approval to subscribe for preferential allotment of equity shares in MT Educare Ltd. Post subscription, Zee Learn Ltd would hold a 44.53% stake in MT Educare Ltd. The acquisition of MT Educare Ltd is aligned with our strategy to increase our footprint across segments in the Education sector and consolidate our offerings through the digital route. This stake acquisition will strengthen our Pre Schools and K12 offerings through Kidzee & Mount Litera Zee Schools respectively and will also mark our entry into the high growth market of Edutech through Robomate and test preparation / tutorials through other brands like Mahesh Tutorials, Lakshya and Chitale classes. This acquisition will also help us make inroads into the government supported skilling and vocational segment where MT Educare has a significant presence. Post the acquisition, our education offerings on a consolidated basis would reach around 3.50 lakhs students, making us one of the biggest education companies globally in terms of number of students served. With this association, we will create high value content and enrich the student experience by leveraging the strong experience of the academic teams of both the companies. We are confident that this acquisition will further improve and strengthen the shareholder value of both the companies and we are now equipped for an exponential growth in the future."

Shares of ZEE LEARN LTD. was last trading in BSE at Rs.42.45 as compared to the previous close of Rs. 44.75. The total number of shares traded during the day was 147905 in over 1058 trades.

The stock hit an intraday high of Rs. 45 and intraday low of 41.85. The net turnover during the day was Rs. 6337493.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

High Energy Batteries India Ltd appoints CFO
Fire accident at Ankit Metal & Power Ltd's plant
SQS India BFSI Ltd updates on winding up of German subsidiary
Infosys Invests an Additional USD 1.5 Million in Waterline Data Science
United Spirits to consider stock split
20 Microns Nano Minerals Ltd submits DRHP for SME IPO in NSE Emerge
JSW Energy Ltd secures Power Purchase Agreement for supply of 200MW
Dilip Buildcon Ltd receives LOA from HAI for EPC project valued Rs. 677.07 crore
Covestro awards L&T Technology Services Multi-Million Dollar ER&D project
Hero MotoCorp arm increases stake in JV company
Twinstar Industries Ltd appoints director
ISL Consulting Ltd announces resignation of CFO
Nath Pulp & Paper Mills Ltd appoints company secretary
Future Market Networks Ltd sells commercial space in Ahmedabad
Cox & Kings Ltd sells 11.58% stake in subsidiary
Anjani Portland Cement Ltd to set up additional clinker producing unit
Emami Paper Mills Ltd allotted land for expansion project by GIDC
Sundram Fasteners Ltd announces change in KMP
MCX to launch world's first Brass Futures Contract
RCom clarifies on Supreme Court Order
Legacy Mercantile Ltd appoints director
Balaji Telefilms Ltd announces resignation of Mr. Jyotindra Thacker
Tata Global Beverages Limited reappoints Executive Director
HIL Bags TPM Excellence Award At Three Of Its Roofing Plants
Prataap Snacks Ltd celebrates achievement of Rs. 1000 crore annual turnover
Saudi Real Estate Refinance Company deploys TCS BaNCS
Hubtown Ltd appoints Mr. Shailesh Hingarh as director
Hind Securities & Credits Ltd announces resignation of company secretary
Kesar Terminals & Infrastructure Ltd announces resignation of Shri R H Kilachand
L&T Construction's Water & Effluent Treatment Business enters GUINNESS WORLD RECORDSŪ books
Reliance Infrastructure moves Hon'ble Commercial Court, Goa for payment of Arbitration Award
AIA Engineering Ltd declares interim dividend of Rs. 8 for 2017-18
Thomas Cook India launches Hello Series - a One Week Getaway featuring a single standalone destination
NHPC Ltd synchronizes Unit II of Kishanganga HE project
Suven Life Sciences secures Product Patents in Norway, South Korea and Singapore
CARE Ratings re-affirms ratings of IPCA Labs' long term / short term bank facilities
Genus Power Infrastructures wins order worth Rs. 125 crore
Aurionpro bags Rajasthan Government's prestigious Smart City Initiative '3D City' Jaipur project
IRB Infrastructure Developers Ltd emerges preferred bidder for road project in UP
TCS Recognized as a Leader in Software Product Engineering Services by Everest Group
Zensar acquires Guidewire Platform Implementation service provider Cynosure Inc
Sandur Manganese and Iron Ores Ltd receives 5 Star Rating for its mines
Binani Industries Ltd clarifies on media reports on fraud
ISL Consulting Ltd appoints CFO
Sibar Autoparts Ltd calls for Board Meeting on Mar 28, 2018
OIL's to participate in Assam Petro-Chemicals Limited's projects
Pricol Limited receives ARAI Certificate for Telematics Devices
PC Jeweller Ltd to open 2 new showrooms at Aurangabad, Hardoi
Sun Pharma Announces U.S. FDA Approval of ILUMYA™

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018