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IL&FS sells 26% stake to IEP for Rs172 cr

IL&FS sells 26% stake to IEP for Rs172 cr
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First Published: Wed, Jan 27 2010. 10 37 PM IST
Updated: Wed, Jan 27 2010. 10 37 PM IST
Bangalore: In one of the largest private equity deals in the education sector in India, IL&FS Education and Technology Services Ltd has raised Rs172 crore from India Equity Partners (IEP) for a 26% stake.
“The money will help the education services firm achieve its growth targets for the medium term,” managing director Hari Sankaran said. “We will utilize it for backing projects and developing new solutions for the education space.”
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First Published: Wed, Jan 27 2010. 10 37 PM IST