India Equity Partners acquires a 25% stake in IL&FS Education & Technology Services

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ACQUISITION 
FDN Database Reference:  F231109-312
 
Acquirer:  India Equity Partners  
Location:  Mumbai India
Region:  Asia
Description:  India Equity Partners Fund Advisors Pvt. Ltd. is a PE firm with $2bn under management. The fund focuses on companies operating in the fields of logistics, real estate, telecom, media, financial services manufacturing, life sciences and education.
Category:  Private Equity
Contact:  Gaurav Mathur, Managing Director, India Equity Partners
 
Vendor:  IL&FS Education and Technology Services Ltd
Vendor Web:  http://www.ilfsets.com 
Location:  Mumbai India 
Region:  Asia
Description:  IETS is in the business of commercialisation of technology-enabled learning and teaching solutions, including web-based multimedia, educational software packages, trade in technology-based products and publication of educational material, development and sale of content and software development and maintenance of information technology-related systems, including training, project management and consultancy in respect thereof.
Category: Education, Publishing
Contact 1:  Mr Ravi Parthasarathy, Chairman
Contact 2:  Hari Sankaran, Managing Director
Contact 3:   Arun K Saha, Joint Managing Director  
 
Aprox. Value:  Rs 140cr
 
Details:  India Equity Partners will acquire 25% stake in IL&FS Education and Technology Services Ltd. for around Rs 140cr, valuing the company at Rs 560cr. The price per share is expected to be Rs 175. The 3 existing shareholders- Orix Corporation of Japan, HDFC and Sera fund will divest their entire stake, which amounts to 20%, and the remaining 5% will be acquired through fresh issue of share by IETS. Orix Corporation also has a JV with IL&FS in ORIX Auto Infrastructure Services Ltd. The current paid-up capital of IETS is Rs 32.31cr, comprising of 3.23cr equity shares of each.

Link: Deal Curry

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