Educomp picks up majority stake in Vidya Mandir for Rupees 34 crore

Updated on: Thursday, August 12, 2010

Education services provider Educomp Solutions today said it has picked up a majority stake in test preparatory institute Vidya Mandir Classes (VMC) for about Rupees 34 crore.

Founded in 1989, the city-based VMC is engaged in preparing students for IIT JEE (Joint Entrance Examination for Indian Institutes of Technology in India).

Besides, it also prepares students for other engineering entrance examinations such as AIEEE, NSIT, DCE and BITS and offers regular classes, online and correspondence courses for preparation of engineering entrance exams with almost 10,000 students every year.

Earlier this year, the company had acquired education portal Studyplaces.com and in June 2009, it entered into a JV with Pearson plc to offer vocational education.

Currently, the test preparatory segment in the country is estimated at 1.7 billion dollars with an average coaching spend of each student being close to Rs 30,000 to Rs 50,000 yearly.

Educomp picks up majority stake in Vidya Mandir for Rupees 34 crore

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