Core Education to rope in partner for India business, sell non-core assets worth around $67M

Mumbai-based Core Education & Technologies Ltd has decided to induct joint venture partners for the India business, as part of its efforts to revive the company, according to a stock market disclosure.

In a meeting held on June 10, the board of Core Education, formerly known as Core Projects & Technologies Ltd, decided to appoint a real estate consultant for developing or disposing of its non-core assets and real estate properties, it said in the filing.

These non-core assets and real estate properties of the company are currently valued at approximately Rs 400 crore (around $67.4 million), it added.

Moreover, the board of directors has decided to bring in additional investment and divest its investment in its overseas subsidiary.

Currently, Core Education offers cover compliance, assessment, content, teacher training, vocational training, examination management systems and language training globally. It also focuses on providing technology-enabled education solutions to government bodies, schools and students.

In addition, the company provides IT and software development services, and is involved in enterprise resource planning, logistics and consulting.

Core Education has presence across India and several countries abroad.

Core Education's scrip was trading at Rs 19.84 per share, down 4.97 per cent on the BSE from its previous close in flat Mumbai market on Wednesday.

(Edited by Joby Puthuparampil Johnson)

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