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MT Educare buys 51% in Lakshya Forum for Competitions

Under the deal, the acquirer the the option to buy 100% stake in Lakshya up to June 2018

Kalpana Pathak  |  Mumbai 

Coaching services provider MT Educare Limited has bought 51 per cent stake in Lakshya Forum for Competitions, an IIT, Engineering and Medical Entrance teaching institute.

The agreement gives an option to MTEL to buy 100 per cent stake in Lakshya up to June 2018.

Mahesh Shetty, Chairman and Managing Director said, "With Lakshya’s strong domain expertise in the new advanced IIT exam pattern, MT’s Science section will now offer the entire end to end training to all its students aspiring for Boards, the JEE Mains as well as the JEE Advanced and NEET examinations for a successful career in the engineering and medical stream”.

Established in 2006, Lakshya was started by four IITians with an aim to make 'Learning more Interesting' and under their leadership and guidance Lakshya has grown to become one of the leading test prep institutes of entire North India, currently catering to over 2,500 students, with a faculty strength of 40 teachers of which 20 are IITians and Doctors.

Lakshya has centres in Patiala, Bathinda, Chandigarh and Panchkula.

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First Published: Sat, November 24 2012. 15:51 IST