eSense learning Private limited ('eSense'), Wholly Owned Subsidiary of Navneet Education Ltd has on 29th November, 2021, entered into Share Subscription Agreement, Shareholders Agreement and other transactional documents, agreement thereby agreed to acquire 4179 Equity shares of Rs. 10 each (14.29%) of SFA Sporting Services Private limited ("SFA") by way of fresh allotment.
SFA is engaged in sports and related activities, including without limitation (a) providing a professional institutional multisporting platform for sports events and sports training; (b) league development; (c) acting as an online aggregator for sports events and sports training (d) building sports information technology; (e) providing sports and sponsorship consulting; (f) providing athlete talent management; (g) marketing; (h) media and licensing; (i) sponsorship management; (j) e-gaming; in relation to sports and related activities and (k) retailing/wholesale of sports merchandise
A sport is an integral part of every child's growth. The positive physical and mental effect it can have on this segment will significantly improve the way to learn, adapt and collaborate in the future. A strategic partnership by eSense with SFA would help and improve Navneet Education Limited's offering of 'Ediech Products' to schools and educational institutions. The strong platform built by the founders of SFA would make things easier for Schools and Educational Institutions who want to connect children with sports.
The stake acquisition in the form of Equity shares of SFA by eSense as mentioned above would help in solving need for Navneet Education Limited's 'EdTech Products' B2B to offer sports management to Schools and Educational Institutions.
Shares of Navneet Education Limited was last trading in BSE at Rs. 99.60 as compared to the previous close of Rs. 100.00. The total number of shares traded during the day was 8800 in over 322 trades.
The stock hit an intraday high of Rs. 101.80 and intraday low of 98.90. The net turnover during the day was Rs. 877155.00.