ManagementEdServ to raise $25 million
EdServ Softsystems (EdServ), a Chennai-based education and placement company, is planning to raise $25 million (around Rs 115 crore) either through a GDR (global depositary receipt) or an FCCB (foreign currency convertible bond) issue by the first quarter of the next financial year.
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The proceeds of the issue will be utilised to expand the company’s school and online tuition services business, upgrade its learning management system including institutions management systems, content development, enhance infrastructure and expand its presence in the higher education and career placement segments pan-India, besides rolling out a nationwide promotional campaign.
EdServ, through Vidyadhana, an academy of excellence in K-12 for schools that encompasses fun-filled learning for primary and secondary education, plans to extend its presence to 250 EdSchools over the next 12-18 months.
As part of its IDEA (Industry Demand Alignment)-based educational programme for schools, EdServ will also support and guide every student from K-12 to careers in a progressive education model through a smart learning process. The long-term plan is to provide career seeding and mapping for students from as early as the primary and secondary education levels.
“Already, over 50 schools across Tamil Nadu had shown interest to sign up under our Vidyadhana school model and we expect to roll out the programme early next year. Our plan is to invest mainly in building a tutor-based learning model across the country and expand our presence and reach in the online tuition services market,” said S Giridharan, chairman and chief executive officer of EdServ.