Everonn Education’s founder sells 4.98% stake for Rs 29 crore

Everonn Education’s founder and former chief P Kishore has sold 1.090 million shares or 4.98% stake along with six other PACs (persons acting in concert) on March 30, which would be worth about Rs 29 crore at the current market price of Rs 268.40 a share. Following the dilution of stake, Kishore now holds 11.94% in the company, as against 16.92% previously.

Earlier, the company had said that the Concorde Residential Schools (Kerala), along with Varkey group and other PACs, acquired 4.99% stake in the company to raise its stake to 43.02%.

Kishore was part of the main founder-promoters of the company, but at a meeting held on March 28 its board had approved removal of Kishore and six other entities/persons from Everonn Education’s promoter group.