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Morgan Stanley PE, Banyantree invest $75 mn in Nspira

Press Trust of India  |  Mumbai 

Education services company today said it has raised USD 75 million by selling an undisclosed stake to and II.

The fund infusion will be used by the Hyderabad-based company for its organic and inorganic growth plans, an official statement said.

The infusion includes USD 67 million from a fund managed by Asia for a "minority stake", the statement said.

"We will be deploying the funds to scale our business geographically, increase our client base, develop cutting edge education products, modernise our facilities and scale up our digital business," Nspira's Puneet Kothapa said.

The company will also "opportunistically" look at inorganic opportunities synergistic with core business and diversifying offerings, he added.

"We believe private education in is poised for a strong growth phase, driven by the large demand-supply gap for quality education as well as by increasing disposable incomes and urbanisation," PE Asia's in India, Nirav Mehta, said.

Naval Totla, the of Banyantree Growth Capital said the company's business model is highly scalable and can be relevant to the students' needs with continuous innovations.

acted as the sole to for this transaction.

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

First Published: Wed, July 11 2018. 17:10 IST