Maharana Infrastructure and Professional Services gets second round of funding

Updated on: Saturday, February 02, 2013

Private equity funds Avigo Capital and Matrix Partners India have invested Rs 100 crore in education service provider Maharana Infrastructure and Professional Services (MIPS), a part of the Kanpur-based group which runs higher education institutes across north and central India .

This is the second round of funding for MIPS which provides education services like curriculum support, student placements, marketing, HR consulting and infrastructure services to various educational institutes.In April 2011, it had received an investment of Rs 50 crore from Matrix Partners India. The latest round of funding will be used to offer infrastructure services, and facilities management services to educational institutes. O3 Capital was the sole advisor to the transaction.

Shailendra Bhadauria, Chairman, MIPS said, " We are looking to capitalize on vast opportunities in skill development through the emerging public private partnership route.

Matrix, which typically makes early stage investment, has pumped in Rs 20 crore while Avigo Capital , a mid-market PE fund has put in Rs 80 crore in MIPS. We continue to believe in India's education services sector and look to partner with companies having innovative business models. MIPS is on an exciting growth trajectory and we continue to back them to become a dominant player in India with its focus on providing state of the art facilities and high quality job oriented training." said Amit Kapoor, MD, Matrix Partners. MIPS is the largest service provider in North India and currently caters to more than 10,000 students across 16 institutions. "We would like to see it become a national player over the next few years." said S. Harikrishnan, MD, Avigo Capital.

Maharana Infrastructure and Professional Services gets second round of funding

More Education news