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.
SAIF Partners, one of the early backers of BSE listed local search directory, Just Dial has sold close to 2.4% stake in the company for a total of INR254 Cr. The part exit fetches the fund, a 30x returns on its seven year old investment.