Arihant Academy Acquires Carmel Classes for Rs 10 Crore

New Delhi, Apr 10 (PTI) NSE-listed education firm Arihant Academy on Thursday said it has acquired 100 per cent stake in Carmel Classes and Carmel Tuitions in a deal valued at USD 1.2 million (about Rs 10.2 crore).

The deal covers a substantial infrastructure of almost 30 Carmel classrooms that will be added to Arihant's portfolio along with a student base of over 2,000; thus, bolstering Arihant Academy's reach and market share, the company said in a statement.

The acquisitions will further reinforce Arihant's market leadership in the education sector, it said.

Speaking about the acquisitions, Arihant Academy co-founder Anil Kapasi said, "With these coaching giants coming together, we plan to take the education system to the next level by combining our expertise, resources, and technology-driven education methods.