EdServ To Raise $29 Mn Through QIP
EdServ Infosystems Ltd is looking to raise upto $29 Mn through a QIP issue. The proceeds will be used to fund its expansion plans which includes content development, acquisition and expanding its presence across the country.
EdServ has appointed HDFC Bank as the merchant banker for the QIP. EdServ is also raising its authorized capital from Rs 14 Cr to Rs 25 Cr.
Transaction Reference: ET
EdServ Softsystems Ltd – promoted by S Giridharan - is an IT solutions company that provides integrated learning & placement solutions. It offers e-learning solutions through its products – EdCenters, EdCampuses and EdCadeys. It has provided staffing solutions to TVS Group, Infosys, HCL Technologies, Hexaware Technologies and Ashok Leyland.
EdServ has been on an acquisition spree. Earlier this month, it acquired SmartLearn Telcomp Pvt Ltd for an undisclosed, it also acquired Bridle Information and Technology Services Pvt. Ltd. for about $1 Mn. In Sept’09, it acquired 100% stake in online tuition portal 2tion.com.
Last month it got shareholders’ approval to raise upto $500 Mn from the overseas market, however no action has take place on that front yet.
EdServ posted a PAT of Rs 5.64 Cr on revenues of Rs 15.52 Cr for the quarter ended Dec’09.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 22/11/10 | EdServ Softsystems - Dainik Jagran | Private Equity | Jagran Prakashan Limited | - |
| 13/09/10 | Edserv Softsystems - QIP | IPO / Offerings | 13.15 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 17/05/12 | Private Equity | Looking For | Prizm Payment Services Private Limited | 92.18 | Planned |
| 17/05/12 | M&A | Carzonrent India Private Limited | QCABS | - | Announced |
| 17/05/12 | M&A | Trivone Digital Services Private Limited | Chakpak Media Private Limited | - | Completed |
| 17/05/12 | M&A | Trivone Digital Services Private Limited | WheelsUnplugged.com | - | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| EdServ Softsystems Limited | G Gita S Giridharan |
New No. 139, Panna Plaza, I Floor, Arcot Road, Kodambakkam |
Educomp Solutions Limited Everonn Education Limited Podar Education Network Private Limited |
www.edserv.in |
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