Navneet Learning LLP announces part divestment in K12 Techno Services Private Limited

Navneet Learning LLP, a subsidiary of Navneet Education Limited, has today entered into a definitive agreement for divestment of its partial stake in K12 Techno.

Commenting on the transaction, Mr. Gnanesh (Sunil) D. Gala, Managing Director, Navneet Education Limited, said, "Navneet Learning LLP has entered into a definitive agreement with Venturi Partners to divest 5.12% stake2 in K12 Techno for a consideration of INR 225.18 crores.

Navneet Learning LLP has cumulatively invested INR 118.59 crores in K12 Techno, and today marks the 1st part exit of our stake which is in-line with the thesis of value creation we had originally envisaged while making an investment in K12 Techno.

This decision to partially divest our stake aligns with our long-term strategic vision and allows us to focus our resources on core business objectives while unlocking value for our stakeholders. By reallocating resources, we're preparing ourselves to be more agile and responsive in a changing market.

As we embark on this journey, we remain committed to driving sustainable growth and delivering shareholder value."

EY acted as the exclusive financial advisor on this transaction.

Shares of Navneet Education Limited was last trading in BSE at Rs. 159.60 as compared to the previous close of Rs. 157.40. The total number of shares traded during the day was 72509 in over 1935 trades.

The stock hit an intraday high of Rs. 162.90 and intraday low of 154.00. The net turnover during the day was Rs. 11552858.00.

Source : Equity Bulls

Keywords

NavneetEducation INE060A01024 NavneetLearning StakeDivestment K12Techno