Tree House Education has announced to raise R41.18 Cr from Aditya Birla PE and ON Mauritius.
The BSE filing stated that the board has approved the proposal to issue and allot 1.85 Mn equity shares of R10/- each at a premium of R212.60 per equity share aggregating to an issue size of R41.18 Cr on preferential basis.
The company will allot 1.4 Mn shares to Aditya Birla Trustee Company Private Limited for and on behalf of Aditya Birla PE – Sunrise Fund and 0.45 Mn shares to ON Mauritius, an existing shareholder of the company.
The board also approved the proposal to raise R40.06 Cr by allotting 18,00,000 warrants convertible into equity share at a price of R222.60 per share to promoters Rajesh Bhatia and Geeta Bhatia.
After five months of negotiations and competitive bidding, the global PE funds Warburg Pincus and General Atlantic, emerge as the frontrunner to buy a majority stake in brokerage and financial services firm, Sharekhan at a deal valued between R2,000- 2,400 Cr.