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:

TCS Recognized as a Leader in Finance and Accounting Digital Augmentation Suite by Everest Group

Meera Industries Ltd receives order from Bolivia

Sun Pharma announces Australian TGA approval of ILUMYA™

Reliance Industries Ltd updates on KGD6 well

Dion Global Solutions launches Modular Wealth Intelligence Platform

Infosys Recognized as a Microsoft Azure Expert Managed Services Provider

Nagarjuna Fertilizers and Chemicals Ltd extends shut down of plant

Dilip Buildcon Ltd declared L-1 for Indore Metro Rail Project, Phase-I

Gravita expands production capacity of its plant situated at Chittoor, Andhra Pradesh

Graphite India Ltd clarifies on pollution issues at Bengaluru Plant

CARE assigns rating to Pitti Laminations Ltd

GRUH Finance Ltd to consider 2nd quarter results on Oct 29, 2018

Ashok Kumar Pradhan appointed as MD and CEO of United Bank of India

City Union Bank Ltd opens new branch at Uthukottai

Asian Paints commissions Plant at Mysuru

SBI assigns loans given to Modern Dairies Ltd to Edelweiss ARC

Tera Software Ltd announces resignation of CFO

NELCAST Ltd commissions Phase I of greenfield project

Karnataka Bank Ltd board to announce Q2 results on Oct 12, 2018

Infosys and Trinity College Launch Catalytic Partnership to Bridge the Liberal Arts and Digital Technology

Wipro Cited as a Leader in Everest Group's Digital Workplace Services PEAK Matrix™ assessment

Superstar Anushka Sharma, the new face of Softline Leggings

Ind-Ra assigns rating to Gallantt Metal Ltd

S Harisankar takes charge as MD and CEO of Punjab & Sind Bank

Suraj Products Ltd receives 5 Star Rating from Odisha State Pollution Control Board

S S Mallikarjuna Rao appointed as MD and CEO of Allahabad Bank

Asda selects HCL Technologies to help drive IT transformation

CARE reaffirms rating of Forbes and Company Ltd

Tata Power bags 'GOLD' at the Chapter Convention on Quality Circle 2018 Award

Ind-Ra assigns IND A1+ rating for GHCL Ltd's Commercial Paper

ICRA reaffirms long term rating of Sundaram Brake Linings Ltd

The Training Room and TCS iON Partner to Launch International Training and Careers Platform

ACCC announces clearance of the merger of Arrow Pharmaceuticals and Apotex Australia & NZ

Infosys Launches Wingspan, a Transformational Learning Solution for Enterprises

Delta Magnets Ltd approves merger of Arrow Textiles Ltd and MMG

NBCC India Ltd secures business of Rs. 921.67 crore in August 2018

G E Shipping takes delivery of Secondhand Very Large Gas Carrier 'Jag Vasant'

RBI allows Rana Kapoor to continue as MD & CEO of YES Bank till Jan 31, 2019

Asian Paints Ltd announces sad demise of Shri Ashwin Choksi

CCI imposes penalty of Rs. 12.35 crore to Bajaj Hindusthan Sugar Ltd

Blue Coast Hotels Ltd hands over possession of Goa hotel to ITC

Shankara Building Products Limited opens its 134th Store

Allahabad Bank to raise Rs. 1500 crore through QIP in 2018-19

Manali Petrochemicals Ltd to commence supply of new products from Sep 19, 2018

HPL Electric Participates in 12th edition of 'Renewable Energy India Expo 2018'

Kanpur Plastipack Ltd extends date for payment of final call money

Newgen Software Technologies Ltd signs agreement with HP for supply of software licences

Raghav Productivity Enhancers Ltd bestowed with Rajasthan Udyog Ratan Award 2018

Varroc Engineering arm forms JV with ELBA SA

Nucleus Software's lending software goes live at VietCredit Finance Joint-Stock Company

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

disclaimer copyright © 2005 - 2018