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 communiqué 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
Sunny Leone in Discovery JEET’s show Man Vs Wild

Sunny Leone will be displaying her adventurous side as host of the mega-popular survival series Man Vs. Wild. The iconic series will telecast in Hindi on the soon-to-be-launched GEC Discovery JEET. The new GEC will premiere in the second week of February 2018 and the series will feature the...

Television TV Channels GECs
Times Now appoints Sujeet Mishra as marketing head

Times Network, part of India’s media conglomerate, The Times Group today announced the appointment of Sujeet Mishra as head of marketing, Times Now.

Television TV Channels People
Experience space with BBC's new VR experience

The BBC is giving you a chance fly. Home - A VR Spacewalk is an interactive virtual reality (VR) experience launched today for the HTC Vive and the Oculus Rift, and is available to download for free via the Steam Store and the Oculus Store.

Television TV Channels Factual & Documentary
Sony BBC Earth presents the Best of 2017

Sony BBC Earth revisits some of its most popular episodes of the best shows in a special programming line-up titled Best of 2017 starting 18 December 2017, every night at 7 pm and 11 pm.

Television TV Channels Factual & Documentary
Increased revenue from traditional media boosts Shemaroo numbers

Integrated media content house Shemaroo Entertainment Limited (Shemaroo) reported 18.3 percent higher year-on-year (y-o-y) consolidated total revenue for the quarter ended 30 September 2017 (Q2 FY 2017-18, the quarter under review) stood at Rs 1,345.7 million as compared with Rs 1,138.6 million in...

Television Production House Film Production
21st CF spins-off into new live news & sports co Fox

MUMBAI: After the blockbuster acquisition of 21st Century Fox by The Walt Disney Company, the former has announced that it will spinoff into a new brand Fox’ that will seek to replicate its own success in the newly focussed verticals of live news and sports brands. Using fiscal 2017 as a base, the...

Television TV Channels News Broadcasting
With Star India, Disney emerges as India's largest M&E firm

MUMBAI: Unlike the US, where the merger of The Walt Disney Co and 21st Century Fox’s entertainment assets is between two near equals, the scenario in India is totally different. 21st Century Fox’s India venture Star India is a $1.7 billion dollar media and entertainment behemoth while Disney India...

Television TV Channels People
Disney to buy 21st Century Fox assets for $52.4 billion

The Walt Disney Co has set up a $52.4 billion, all-stock deal to acquire 20th Century Fox and other entertainment and sports assets from Rupert Murdoch’s empire.

Television TV Channels Movie Channels
MOVIES NOW brings #StopDreamingAndStartWinning with 100 Mania Season 5 for its viewers

Movies Now, India’s english movie channel, rings in the festive season with its property ‘100 Mania’, beginning Friday, 15 December at 9pm. In its 5th season, the channel has curated a line-up of some of the biggest Hollywood blockbusters like Furious 7, Jurassic World, Disney’s The Jungle Book,...

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories