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Educate India
Transaction Type:
Debt or Bond
Country:
India
Employment:
N/A
Jobs Saved:
N/A
Industry:
Institutes - Educational , Training
Sector:
Institutes Educational, Training
Business Description:
Borrower Overview:
The group owns 5 Companies of which 3 are in to manufacturing of automotive parts and other components and 2 are operating in the education sector.
The group has a collective net worth of more than US$ 70 Mn (net of loans) as per market value of assets and contribute annual turnover of US$ 28 Mn.
The group acquired and turned around the flagship school of the society, from a low fee based school with merely 100-150 students in 2005-06 to an International School, which is one of the top schools in Noida with over 1,800 students
Being renowned industrialists and having reasonable experience in take over and reviving schools, and achieving EBIDTA level of more than 40%, they bid for the company owning school infrastructure of multiple schools, which are given on lease to various Trusts/ Societies who are running the schools
Product Description:
Project Overview:
The company develops and owns school infrastructure and leases out the same to educational trusts/societies.
The company acquires land and constructs entire physical infrastructure / building required for a school and leases these school assets to ‘Educational Trust’ for a minimum 30 years period and the Trusts are in turn responsible for running the schools, which pay lease rentals to the company.
As of date, the company holds the assets worth US$ 139.45 Mn (Fair Value)
It earns pre-determined Lease rentals for school assets from educational trusts/societies operating the schools and also earns a fixed percentage share in the annual fee revenue earned by the trusts/societies.
Company availed term loans from various banks for setting up of these schools; the said loans turned NPA about 2-3 year back and lenders filed application in NCLT in 2018.
State:
Delhi
Business Type:
Advisor
Experience:
5-15 Years
Employee:
N/A
Verified By:
ILO Consulting Services Private Limited
Revenue (US$ m):
0.0 - 10.0
Opportunity Detail:
Debt or Bond
Type of Transaction
Loan Seeker
Industry
Institutes - Educational , Training
Sector
Institutes Educational, Training
Country
N/A
Loan Size
US$ 49m
Description
The group bid for US$ 70.14, 100% voting by CoC has taken place in favor of the group’s promoter, and the group now seeks to raise structured investment of US$ 49 Mn, to settle the admitted claims of financial creditors and operational creditors and to improve infrastructure of these schools. The group is looking to raise debt funding for the same, and would be open to diluting a minority stake in the company.
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