Shares of Everonn Education slumped 8 percent to Rs 54.50 after rating agency CARE downgraded the company‘s credit rating to default. CARE said the company has been unable to pay interest on Rs 810 crore worth of loans to banks.
Everonn Education was locked at 5% upper circuit. It touched an intraday high of Rs 423.85 and an intraday low of Rs 383.55. At 09:32 hrs the share was quoting at Rs 423.85, up Rs 20.15.
Everonn Education today announced roping in Dubai based GEMS Education as a strategic investor in the company.
Everonn Education today it will issue 12% stake Dubai-based Varkey group company Gems Education on preference basis for Rs Rs 138.23 crore.