February 04, 2011 / 22:42 IST
India's largest mortgage lender Housing Development Finance Corp. (HDFC) is picking up a stake in Indus World Schools for Rs 50 crore, a chain promoted and run by education firm Career Launcher (CL). Private equity firm Gaja Capital Partners, an existing investor, is also co-investing in this round.
Career Launcher Education Infrastructure & Services, which operates Indus World Schools, opened the first school in 2005 at Hyderabad and the second one in 2006 at Indore. Since then the School chain has grown to eleven in 2010 with schools in the NCR, Himachal Pradesh, Haryana, Raipur, Ahmedabad, Aurangabad and Jalgaon. New schools are expected to come up in Karnataka, Haryana and a second school at Hyderabad.Indus World Schools also partnered with realty firm Shriram Properties last year to open 25 schools in townships being developed by the latter in cities like Chennai, Bangalore, Kolkata and Visakhapatnam.HDFC has actively made investments in companies across stages. In September 2010, it invested in Tyfone Inc, a mobile payments solutions company. It has also picked up stakes in Jerry Rao's Value & Budget Housing Corporation and outsourcing firm RuralShores. HDFC also invested in IL&FS Education and Technology Services, which is involved in primary education and vocational training, where India Equity Partners invested Rs 172 crore last year.Satyanarayanan R-led Indus World raised its first round of funding from Gaja Capital in 2008. The PE firm also invested $8.25 million in the flagship group firm Career Launcher India, which provides test preparation services. Gaja also has exposure to education through Educomp and its school education subsidiary EduSchools. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
