Coaching Institute Resonance Eduventures plans to raise Rs 500 crore via
IPO
31/12/2014 14:30
Test preparation and coaching institute Resonance Eduventures based in Kota, Rajasthan and with 28 pan-India study centres for IIT and medical entrance exams, is planning an initial public offering to raise around Rs 500 crore, two sources familiar with the development. The company's listed peers have done well in recent times and its IPO plans are currently at a preliminary stage. The offering will also facilitate an exit for the company's private equity investors. CLSA Capital Partners, the private equity arm of brokerage CLSA, had invested USD 22 million (Rs 140 crore) for a minority stake in Resonance Eduventures in 2011. The arm has approximately USD 2.6 billion in funds under management and eight offices across Asia, including Hong Kong, Singapore and Tokyo. The second private equity investor is Milestone Religare Investment Advisors, which had invested Rs 50-60 crore in Resonance in 2010. Three years later, Quadria Capital, an Asia-focused healthcare fund acquired Milestone Religare Investment Advisors.
31/12/2014 14:30
Test preparation and coaching institute Resonance Eduventures based in Kota, Rajasthan and with 28 pan-India study centres for IIT and medical entrance exams, is planning an initial public offering to raise around Rs 500 crore, two sources familiar with the development. The company's listed peers have done well in recent times and its IPO plans are currently at a preliminary stage. The offering will also facilitate an exit for the company's private equity investors. CLSA Capital Partners, the private equity arm of brokerage CLSA, had invested USD 22 million (Rs 140 crore) for a minority stake in Resonance Eduventures in 2011. The arm has approximately USD 2.6 billion in funds under management and eight offices across Asia, including Hong Kong, Singapore and Tokyo. The second private equity investor is Milestone Religare Investment Advisors, which had invested Rs 50-60 crore in Resonance in 2010. Three years later, Quadria Capital, an Asia-focused healthcare fund acquired Milestone Religare Investment Advisors.
