No deal yet with MT Educare: Zee Learn

MUMBAI: After reports of Zee Learn?s acquisition of MT Educare, the Bombay Stock Exchange (BSE) sought a clarification from Zee regarding the purchase. The company replied stating that as part of its continuing business strategy, it constantly sought potential opportunities in various capacities to expand its business. "The company currently has not finalised any deal with MT Educare Limited," said its response to the BSE.

According to media reports, Zee Learn is looking to buy a controlling stake in MT Educare that runs Mahesh Tutorials, a popular coaching-class network in Mumbai. The company initially plans to buy the entire promoter share of 42.78 per cent and later make an open offer for another 20 per cent stake. Institutions and public shareholders own the remaining 57.22 per cent.

MT Educare, which went public in 2012, is a leading education services company that prepares students for competitive examinations. It had a market capitalisation of Rs 324 crore by end of trade on Friday.

At 15:30 hours, MT Educare was trading at Rs 81.10 per share, down by 0.49 per cent, while Zee Learn was trading at Rs 43.95 per share, up by 0.80 per cent. Just last month, Visa Capital bought a 0.60 per cent stake for Rs 68.05 a piece.

Ninety three per cent of MT?s revenue comes from its coaching classes and the rest from Robomate+ app, which provides recorded video lectures.

Zee Learn has a pre-school network of 1700 Kidzees in Asia as well as 115 Mount Litera Zee Schools at the end of financial year 2016-17. It also runs film and TV and animation courses.

In its communiqu? to the BSE, MT Educare said that the company was not carrying out any discussion or negotiations and ?hence we have not given any intimation to the stock exchanges.?

Latest Reads
Amazon most advertised brand in BARC week 41

The Broadcast Audience Research Council (BARC) India has released its data for last week’s top advertisers and brands between 6-12 October 2018. The data is a reflection of top 10 advertiser and brands across genre on Indian television (U+R) : 2+ Individuals.

Television TV Channels Viewership
No changes in Bhojpuri, Kannada, Marathi segments in BARC week 41

In the Bengali space, Jalsha Movies and Colors Bangla swapped their third and fourth positions in BARC data week 41. No changes were observed in the Bhojpuri, Kannada and Marathi segments. Moreover, Gemini TV and Zee Telugu swapped their second and third positions in the Telugu sector. Flowers TV...

Television TV Channels Viewership
Anil Ambani’s Reliance sues NDTV for Rs 10,000 cr for Rafale coverage

NDTV has been sued for Rs 10,000 crore by Anil Ambani's Reliance Group in an Ahmedabad court for its reportage on the Rafale fighter jet deal. The lawsuit is filed against NDTV's weekly show, Truth vs Hype, which aired on 29 September.

Television TV Channels News Broadcasting
Republic TV leads English news genre in BARC week 41

Republic TV continued to lead the English news genre as per All India BARC data week 41. No changes were noticed this week in the English business news genre. Aaj Tak maintained its lead across every Hindi news genre for yet another week. Hindi news urban genre remained unchanged. Zee News dropped...

Television TV Channels Viewership
Star Utsav bags leadership in GEC (U+R) in BARC week 41

Star Utsav and Zee Anmol swapped their first and second positions in the Hindi (U+R) genre in Broadcast Audience Research Council (BARC) data for week 41 of 2018. Star Plus and Big Magic exchanged their eighth and ninth positions in the rural market. Star Bharat and Sony Sab swapped their fifth and...

Television TV Channels Viewership
Sony Pictures Networks India (SPN) extends exclusive television and digital rights partnership with ABB FIA Formula E championship

Sony Pictures Network India (SPN) will continue to broadcast each round of the ABB FIA Formula E Championship for a further two seasons across the Indian sub-continent - including India, Pakistan, Sri Lanka and Bangladesh.

Television TV Channels Sports
James Gough’s innovative idea will be incubated with the intent to prototype it at Formula 1®’s Media & Technology Centre

Formula 1® Managing Director of Motorsports, Ross Brawn, and Mercedes-AMG Petronas Motorsport Driver, Lewis Hamilton, today crowned James Gough the winner of this year’s USD $50,000 F1® Innovation Prize at the FORMULA 1 PIRELLI 2018 UNITED STATES GRAND PRIX in Austin.

Television TV Channels Sports
FLIX FIRST SCREENING: &flix makes October spookier with the multi-city theatrical premiere of Goosebumps 2: Haunted Halloween

&flix, the all-new destination for the most-awaited Hollywood blockbusters, brings the much-anticipated sequel Goosebumps 2: Haunted Halloween on Thursday, October 25

Television TV Channels English Entertainment
BIG Ganga Goes All Out to Delight Its Audience This Festive Season, Launches Engrossing Range of Shows

With the festive season right around the corner, BIG Ganga, the number one Bhojpuri channel in the Hindi heartland

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories