S Chand and Company Limited ("S Chand") along with its subsidiaries has agreed to acquire a minority stake in iNeuron Intelligence Private Limited. The round also includes investments from Mukesh Sharma Family Trust, Directors of S Chand, Key Managerial Personnel of S Chand and others. The co-Investor Mr. Mukesh Sharma is a serial entrepreneur and educationist who has founded multiple companies including QA Info Tech (now a Qualitest company), one of the leading software testing and quality assurance companies. His latest endeavour in the field of education includes Prometheus School, a state-of-the-art education facility located in the heart ofNoida which is an authorized 1B World School for Primary Years, Middle Years and Diploma Programmes.
iNeuron Intelligence Private Limited was founded on August 2019 in Bangalore, India. The Company offers affordable online courses, live projects, support, and placements for college students and working professionals in the field of Data Sciences, Artificial Intelligence, Machine Learning, Cloud etc. They are also expanding Tech and other courses in K-12 segment with the motto "Education as a Service".
The Investment Rationale for the investment is as follows:
a. Addressable market opportunity is large. The online education space is exploding in a post covid world. The courses are for emerging technologies which will make the learners more employable now and in future.
b. Experienced team with a proven business model. The team is pedigreed and has done well to scale business to this level with minimum investments and has been profitable for the first two years of operation. There is no cash burn in the business.
c. The Company has a low customer acquisition cost (CAC) and investments in new courses / team / marketing / support and placements would increase enrollments.
d. Strategic collaboration with S Chand for B2B distribution in both Higher Education and School segment for emerging technologies.
Shares of S Chand And Company Limited was last trading in BSE at Rs. 108.55 as compared to the previous close of Rs. 107.15. The total number of shares traded during the day was 5899 in over 209 trades.
The stock hit an intraday high of Rs. 110.75 and intraday low of 105.95. The net turnover during the day was Rs. 639375.00.