Education support and coaching services provider MT Educare is entering capital market with a public issue on Tuesday, March 27, consisting fresh issue of Rs 35 crore and an offer for sale of up to 80 lakh equity shares by Helix Investments Company, as per advertisement in The Financial Express.
The company provides coaching services to students in the secondary, higher secondary school and pursuing graduation degree in commerce, preparing for various competitive examinations and undertaking chartered accountancy examinations.
Funds raised via fresh issue by the company will be used for partially financing the cost of construction of a PUC campus in Karnataka (including cost of acquisition of land) and establishing new coaching centers at 20 locations.
Equity shares offered by the company are proposed to be listed on the BSE and the NSE.
Enam Securities Private Limited is the book running lead manager to the issue and Link Intime India Private Limited is the registrar.
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