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Ipsaa plans to invest Rs 100 cr; to add 125 day-care centres by 2020

Press Trust of India  |  New Delhi 

plans to invest Rs 100 crore to more than double its centres across the country by 2020, and is also in talks with players to raise USD 10 million in the next 12-18 months.

"We are looking at opening 125 more day-care centres across the country by 2020, taking the total count to 200. All our centres are company-owned and operated and we plan to invest Rs 100 crore to fund our expansion plans," told

Mittal said the company, which so far has been self-funded by promoters and through bank debt, is also looking to raise USD 10 million through Series A funding in the next 12-18 months.

"A few players have expressed interest in investing in Day Care Centres. It is in talking stage right now," he added.

Elaborating on expansion plans, Mittal said, Growing working population in has led to significant demand of credible and quality child care. We have observed a substantial increase in demand from tier 2 cities, and will be instituting over 125 new centres in Ranchi, Coimbatore, and other cities".

The company currently operates over 75 centres in Delhi, Noida, Gurgaon, Mumbai, Chennai, Bangalore, Goa, Pune, Jaipur, and

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, January 13 2019. 14:55 IST
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