MT Educare has received an approval to raise up to a maximum amount of Rs 50 crore through Qualified Institutions Placement (QIP) by fresh issue of shares / securities. The above is however subject to shareholders’ approval by way of special resolution. The board of director at its meeting held on August 22, 2014 has approved for the same.
The board has also approved to increase the authorized share capital of the company from Rs 42 crore to Rs 50 crore and subsequent changes in the Memorandum and Articles of Association of the Company.
MT Educare provides educational coaching services for classes 9 and 10 (state boards, CBSE and ICSE), classes 11 and 12, graduation (commerce), preparatory/entrance tests (engineering, medical and MBA) and professional courses such as chartered accountancy under the brand name ‘Mahesh Tutorials’.
