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Friday, March 05, 2010

Career Point Infosystems plans to raise Rs 115 cr via IPO

Career Point Infosystems plans to raise upto Rs 115 crore via initial public offering (IPO). It has filed draft red herring prospectus (DRHP) with SEBI.

It provides tutorial services to high school and post high school students for various competitive entrance examinations including All India Engineering Entrance Examination, Indian Institute of Technology – Joint Entrance Examination and All India Pre-Medical and Pre-Dental Test.

The company has recently forayed into Education Consultancy and Management Services (‘ECAMS’), catering to K-12 and Higher Education segments. Further, to address larger base of potential students, we have introduced technology enabled education delivery platform for delivering content through ‘TechEdge Class’.

The issue proceeds will be used for construction & development of integrated campus facility; expansion of classroom infrastructure & office facility and acquisitions & other strategic initiatives.

Promoters currently hold 75.35% stake in the company. It includes eight promoters and each one holds over 9% stake in the company.

For the period of six months ended on September 2009, it has reported profit after tax of Rs 9.49 crore on total income of Rs 33.68 crore. It has debt of Rs 0.53 crore.

The book running lead managers to the issue are Centrum Capital Limited and JM Financial Consultants Private Limited. Link Intime India Private Limited is the registrar.


At 9:26 AM, Anonymous Anonymous said...

Tutorial service and Education business is great opportunity for investers


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