Business Standard

MT Educare rises on acquisition of IIT training institute

The company agrees to acquire 51% stake in Lakshya, a leading North India based IIT entrance teaching institute for an undisclosed amount.

Related News

MT Educare is trading higher by 6% to Rs 132.25, extending its Friday’s 15% rally, after the company which owns the Mahesh Tutorials brand said that it has agreed to acquire 51% stake in Lakshya, a leading North India based IIT entrance teaching institute for an undisclosed amount.

“The total consideration will be paid by the company over a period of next 3 years and is dependent on certain milestones to be achieved by Lakshya. The agreement gives an option to the company to buy 100% stake in up to 30th June 2018,” MT Educare, an support and coaching services provider said in a press release.

The stock is currently trading at its highest level since listing on 12th April, 2012. The company had raised Rs 35 crore by issuing 4.37 million shares at price of Rs 80 per share through public issue.

The stock opened at Rs 127 and has seen huge trading activities on the counter. A combined 4.86 million shares have already changed hands so far against an average sub 2 million shares that were traded daily in past ten trading days.

 

Read more on:   
|
|

MT Educare rises on acquisition of IIT training institute

The company agrees to acquire 51% stake in Lakshya, a leading North India based IIT entrance teaching institute for an undisclosed amount.

MT Educare is trading higher by 6% to Rs 132.25, extending its Friday’s 15% rally, after the company which owns the Mahesh Tutorials brand said that it has agreed to acquire 51% stake in Lakshya, a leading North India based IIT entrance teaching institute for an undisclosed amount.

MT Educare is trading higher by 6% to Rs 132.25, extending its Friday’s 15% rally, after the company which owns the Mahesh Tutorials brand said that it has agreed to acquire 51% stake in Lakshya, a leading North India based IIT entrance teaching institute for an undisclosed amount.

“The total consideration will be paid by the company over a period of next 3 years and is dependent on certain milestones to be achieved by Lakshya. The agreement gives an option to the company to buy 100% stake in Lakshya up to 30th June 2018,” MT Educare, an education support and coaching services provider said in a press release.

The stock is currently trading at its highest level since listing on 12th April, 2012. The company had raised Rs 35 crore by issuing 4.37 million shares at price of Rs 80 per share through public issue.

The stock opened at Rs 127 and has seen huge trading activities on the counter. A combined 4.86 million shares have already changed hands so far against an average sub 2 million shares that were traded daily in past ten trading days.

 

image

Read More

BSE launches carbon index

Premier bourse BSE, in collaboration with the UK government, today launched BSE Carbonex, the first-of-its-kind index in India or any emerging market ...

Recommended for you

Advertisements

Quick Links

Market News

Mutual funds raise allocations to FMCG stocks amid jittery markets

Exposure to the sector at nine-month high of 5.01%

Rise of about 30% expected in castor oil export this year

1.5 mn tonne castor seed required to meet demand, lower crop size may create shortage

Pulses traders to benefit from Myanmar Commodity Exchange

The exchange offers trading in commodities across segments, with initial focus on pulses and gold

Sebi may issue paper on listing norms for start-ups next week

Capital markets regulator Sebi is likely to put out a discussion paper on the listing norms for start-ups next week. Securities and ...

Incentives for GIFT City: Profit transfer rule eased for bourses

Sebi issues guidelines on this and related matters for global financial services centre, applicable for foreign & domestic exchanges, ...

 

Back to Top