Nspira raises $75 million from private equity funds
Education services provider Nspira Management Services has raised $75 million in a round led by Morgan Stanley Private Equity Asia and Banyan Tree Growth Capital II
Mumbai: Education services provider Nspira Management Services Pvt. Ltd has raised $75 million in a round led by Morgan Stanley Private Equity Asia and Banyan Tree Growth Capital II, the company said.
As part of the transaction, a fund managed by Morgan Stanley has invested about $67 million of primary capital into the company for a minority stake.
The proceeds will be used to fund the company’s organic and inorganic growth plans. “We will be deploying the funds to scale our business geographically, increase our client base, develop cutting-edge education products, modernise our facilities and scale our digital business,” said Puneet Kothapa, managing director, Nspira. “We will also opportunistically evaluate inorganic opportunities that are synergistic with our core business and help us diversify our offerings.”
Financial services firm Anand Rathi acted as the sole financial advisor to Nspira for this transaction.
Nspira provides end-to-end services to over 500 educational institutions with a student base of close to 400,000 across 13 states in India. It designs and curates curriculum and examination content, including digital content for schools and colleges. It also provides admission, infrastructure management, procurement, catering, transportation and hostel management services, besides SaaS solutions, including ERPs, HR and CRM, to large groups.
“Education service is one of the core focus sectors for Morgan Stanley across Asia. We believe private education in India is poised for a strong growth phase. Nspira is a leading player in the sector and has been instrumental in supporting the delivery of quality education to the masses at affordable prices,” said Nirav Mehta, managing director of Morgan Stanley Private Equity Asia in India.
Editor's Picks »
- ‘The biggest challenge being an SFB is listing out what the challenges are’
- Imran Khan, Nawaz Sharif face-off as Pakistan goes to polls this week
- Khazanah in early talks to invest in Pepe’s India arm
- Rajnath visits Assam days before release of second draft of NRC
- The Karnataka village that hit the headlines for the wrong reasons
- What ABB India’s performance in June quarter says about capex growth
- Bajaj Finance does well in Q1 even as competition hots up
- Kotak Mahindra Bank: The perils of being priced to perfection
- Higher cane price crushes hopes of sugar mills
- Market optimism before 2019 general election: History may not repeat itself