Issue Date
|
27/03/2012 – 29/03/2012
|
Price Band
|
Rs. 74 - 80
|
Bid Lot
|
80 shares
|
Issue Size
|
Rs.94.2 – 99 Crore (offer for sale of 80,00,000 shares + fresh issue of Rs.35 cr.)
|
COMPANY OVERVIEW
MT
Educare, promoted by Mr. Mahesh Shetty, provides educational coaching
services for classes 9 and 10 (State Board, CBSE, and ICSE), classes 11
and 12, Graduation
(Commerce), preparatory/ entrance tests (Engineering, Medical and MBA)
and professional courses such as Chartered Accountancy. The Company has
evolved from a local coaching player operating from few centers under
the partnership structure to a corporate; the
partners were inducted into the company with key responsibilities and
also given ESOPs. Along with geographic expansion, the company has also
broadened its product portfolio through various acquisitions. Today MT
Educare is one of the largest coaching service
providers in Mumbai; as of January 31, 2012 it has 188 centers in 110
locations across Maharashtra, Karnataka, Gujarat and Thamilnadu. As of
January 31, 2012, our Company has 757 faculty members across all our
Coaching Centers. It has coached 58,300 students
during FY11. The Company runs the coaching classes under the brand name
“Mahesh Tutorials”.
Recommendation : Avoid
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