Resonance Eduventures plans for IPO

17 Nov 2015

Rajasthan based coaching institute Resonance Eduventures is planning to file for initial public offering (IPO) to raise approximately Rs 700 crore to fund its expansion.

The Kota based test preparation institute has 28 pan-India study centres for IIT and medical entrance exams.

Earlier in 2011, CLSA Capital Partners had invested Rs 140 crore for a minority stake in Resonance Eduventures. Quadria Capital had infused Rs 50-60 crore in 2010.

The company’s FY15 Revenues stood at Rs 400 crore and profits for the same period at Rs 100 crore.

Source: Dion Global Type: IPO Related

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