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:

IFCI Ltd reports loss of Rs. 16.55 crores in Q2 FY19

Muthoot Finance Ltd Q2 FY19 PAT climbs to Rs. 483.83 crores

IndiGo brings its school adoption programme to Vadodara; adopts 15 government schools

WhizAI raises $1.1 Million in Seed Funding Led by Trigyn Technologies, Inc.

ETT Ltd appoints director

Power Grid declared as successful bidder under TBCB

Sagar Cements Ltd approves new projects

Avenue Supermarts Ltd issues Commercial Paper of Rs. 100 crore

UROS Group joins forces with Tata Communications to accelerate IoT and Smart City projects

ICICI Bank Ltd announces change of Government Nominee Director

Nestle India Limited Board approves Dividend of Rs. 50

Ravalgaon Sugar Farm Ltd approves sale of land, machinery

Spice Mobility Ltd announces resignation of CFO

Indian Hume Pipe Company Ltd receives LoA for work of Rs. 204.51 crores

Lemon Tree Hotels Ltd opens new hotel at Connaught Road, Pune

Mr Milan Paleja to step down from Novartis India Ltd

Brickwork Ratings upgrades rating of Xpro India Ltd

Indo Gulf Industries Ltd announces change in CS

Tasty Dairy Specialties Ltd inks MoU with Foundation Dutch Greenhouse Delta

PVP Ventures Ltd appoints additional director

AARV Infratel Ltd enters into term sheet with Quess Corp

Maruti Suzuki India mulls price increase from January 2019

Capital India Finance Ltd board to consider rights issue

US FDA completes inspection of Lupin's Mandideep location

SEAMEC III commences 1 year charter with ONGC

Sri Amarnath Finance Ltd announces resignation of CS

Promoter announces offer for sale of shares of RattanIndia Infrastructure Ltd

L&T Construction wins orders valued Rs.2106 Crore

Alembic Pharmaceuticals receives USFDA Approval for Candesartan Cilexetil Tablets USP, 4 mg, 8 mg, and 16 mg.

Divya Jyoti Industries Limited announces resignation of CS

NTPC Wins 85 MW Solar Capacities in UPNEDA's 550 MW Solar Tender

SISL Board approves the scheme of amalgamation of Total Securities with the Company

Rural Electrification Corporation Ltd reports Q2 FY19 PAT of Rs. 1764.33 crores

IL&FS Investment Managers Ltd board to consider Q2 results on Dec 14, 2018

Opto Circuits India Ltd board to announce Q3 results on Feb 12, 2019

Oriental Aromatics Ltd fixes Dec 14, 2018 as record date for bonus issue, stock split

Bosch Ltd appoints Dr. Gopichand Katragadda as an Additional Director

ITC Savlon introduces Braille enabled Packs of antiseptic liquid

MY FM launches 5th edition of 'MY FM Rangrezz'

Gaurs Group gives exit to Indiabulls, pays Rs 340 crores debt

Allen Solly recreates innovative 'Open Work Culture' for Moviegoers

Jain Farm Fresh launches Valley Spice range

Capri Global Capital Limited appoints Mr. Ajay Kumar Relan as independent director

Veto Switchgears and Cables Ltd calls for board meeting on Dec 15, 2018

Alna Trading & Exports Ltd appoints CS

Mr. Rikenkumar Dalwadi appointed as compliance officer of EIMCO Elecon India Ltd

Kesoram Industries Ltd approves demerger of tyre business to Birla Tyres Ltd

The New India Assurance Company Ltd announces change in Chairman and MD

Trigyn Technologies Inc. declares dividend to Trigyn Technologies Limited

Kridhan Infra Ltd's associate company Vijay Nirman Company wins order worth INR 105 crores

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

disclaimer copyright © 2005 - 2018