DMC Education revises acquisition price of ‘PLANSTEPS’

28 Oct 2011 Evaluate

DMC Education has received an approval whereby the company has decided to revise the acquisition price regarding takeover of ‘PLANSTEPS’ from Rs 4.50 crore to Rs 1.25 crore. The board at its meeting held on October 20, 2011 has approved for the same.

The board further confirmed that out of the revised acquisition price, the company will pay Rs 25 lakh in cash and will issue and allot, subject to necessary statutory approval, one zero percentage fully convertible debenture of the company having a par value of Rs 1,00,00,000, compulsorily convertible into equity shares with a face value of Rs 5 each at the end of one year from the date of allotment amounting to Rs 1 crore.

Recently, the company had entered into a share subscription cum share holders’ agreement for the acquisition of 51% shareholding of Lifelong Finishing Academy, a Delhi based Training Institute engaged in imparting training and education in the field of personal grooming, art of cooking, holistic living, etiquette, home and financial management for a cash consideration of Rs 1 crore.

DMC Education provides training for various entrance examinations. The company is focused on coaching and content development for ‘Test Preparation’ and ‘Career' skills for student. It delivers this content through physical and online channels.

Peers
Company Name CMP
CL Educate 76.71
Zee Learn 5.93
MT Educare 3.25
Career Point 419.75
VJTF Eduservices 81.90
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