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.

Last month, Ronnie Screwvala's investment arm, Unilazer Ventures Limited invested R17.20 Cr through bulk deal on BSE. The investment firm bought 8 lakh share at a price of R215.04 per share from Steadview Capital Mauritius, an India focused hedge fund that makes concentrated long term investments in publicly listed companies across multiple industries.

Performance Of Tree House Education On BSE

As on September 2012, PE firm Matrix Partners holds 26.41%, Reliance Capital (4.26%), Omidyar Network’s firm On Mauritius (2.61%) have significant minority stakes.

Last month, Tree House Education increased its authorized share capital from R35.05 Cr to R40 Cr.

Incorporated in 2006 by Rajesh Bhatia and Geeta Bhatia, Tree House provides educational services through play group and nursery for kids.

It offers various courses and activities comprising playgroup, nursery, vacation camp, junior KG, senior KG, mother toddler, teacher training, activity or hobby class, and day care services. The company also provides a range of educational services to K-12 schools that include designing curriculum and providing teaching aids, supplying methods for imparting education and organizing extra-curricular activities among others.

In October this year, it acquired Pre-school division of MT Educare comprising of six company operated centres located at Mumbai and Pune.

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