Edserv In Pact To Expand Chartered Accountancy Coaching

20 July, 2011

Edserv Softsystems said on Tuesday it has entered into a partnership with CAClubIndia, which will help the education services company expand its chartered accountancy examination coaching to about 600,000 students.

Shares of the company, which the market values at $44.92 million, jumped as much as 6.3 per cent to Rs 136.45 in a firm Mumbai market. At 11.18 a.m., shares were up 4.95 per cent at Rs 134.70.

Edserv will get 70 per cent of the revenue generated through this partnership, while CAClubIndia will keep the rest, Chairman and Chief Executive S. Giridharan told Reuters.

“This financial year alone we are targeting about Rs 300 million,” he said.

Edserv had forayed into the online chartered accountancy coaching segment through a 50:50 joint venture with Sreeram Coaching Point in January and expects the overall business to generate revenue of Rs 2 billion over two years.

The company is also focusing on launching chartered accountancy coaching services in the Middle East and will continue to look at more such tie-ups and acquisitions, Giridharan said.

“Currently, we are also looking at tie-ups for entrance examinations such as TOEFL, GRE and CAT,” he added.

 


Leave Your Comment
Dainik Bhaskar Acquires 2.7% Stake in EdServ

Dainik Bhaskar Acquires 2.7% Stake in EdServ

Anil Das 6 years ago
Chennai-based education support services company EdServ Softsystems Ltd has said on Monday that the country’s leading Hindi daily Dainik Bhaskar has acquired 2.7 per cent...
EdServ To Raise Up To $35M Through GDR Issue

EdServ To Raise Up To $35M Through GDR Issue

Priyanka Banerjee 1 year ago
Chennai-based education services provider EdServ Softsystems is looking to raise up to $35 million through a GDR (global depositary receipts) issue to fund its expansion...
StanChart PE making 4x exit from PI Industries

StanChart PE making 4x exit from PI Industries

Madhav A Chanchani 5 years ago
Standard Chartered Private Equity is making over 4x exit on its three-year-old investment in PI Industries Ltd, an agri-input and custom synthesis firm. The private...
No Comments

Edserv In Pact To Expand Chartered Accountancy Coaching

Powered by WordPress.com VIP