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
Partho Dasgupta quits BARC India; Sunil Lulla named CEO

MUMBAI: Partho Dasgupta, the first chief executive officer of BARC India, a joint industry company between broadcasters, advertisers and agencies, today announced his plan to relinquish his position and move on.

Television TV Channels Viewership
News18 Tamil Nadu hosts third edition of Magudam Awards

MUMBAI: News18 Tamil Nadu organised the 3rd edition of flagship initiative the 'Magudam Awards 2019’. Magudam meaning “crown” in Tamil, is an awards platform for celebrating glory of achievement and excellence. Thereby the awards is a unique platform to acknowledge and celebrate excellence in the...

Television TV Channels Regional
News18 Tamil Nadu announces the third edition of Magudam Awards

News18 Tamil Nadu is once again proud to present the 3rd edition of our flagship initiative the 'Magudam Awards 2019’. Magudam meaning “crown” in Tamil is an Awards platform for celebrating glory of achievement and excellence.

Television TV Channels News Broadcasting
News Broadcasters Federation meets today in Mumbai

Top executives of India’s news Industry, part of News Broadcasters Federation - the largest ever federation of news channels will meet today in Mumbai in what will be the biggest meeting of regional and national broadcasters at one platform.  In their first meeting since the announcement, the top...

Television TV Channels News Broadcasting
Republic Media Network, EbixCash partner for world’s first brand-integrated news studio

MUMBAI: Republic Media Network, and EbixCash, India’s largest financial exchange disruptor, announced the world’s first brand-integrated news studio – the EbixCash Studio. With this unique tie-up, EbixCash has partnered with the largest studio in the country with 6,000 square feet of space - a...

Television TV Channels News Broadcasting
ZEEL's Kartik Mahadev on Zee Cafe strategy, BBC First block, post-NTO campaigns

English entertainment channels was feared to face the most challenging time in the NTO phase. ZEEL English Cluster Business Head Kartik Mahadev informs that initially there were some flux at ground level between consumers and distributors but increasing awareness of the MRP regime through campaigns...

Television TV Channels English Entertainment
BARC week 41: Amazon, Flipkart’s festive season sales make them top two brands

MUMBAI: The Broadcast Audience Research Council (BARC) India has released its data for top advertisers and brands for the period between 5 October 2019 and 11 October 2019. The data reflects top 10 advertiser and brands across genre on Indian television, including OOH screen, (U+R): 2+, Individuals...

Television TV Channels Viewership
Sony MAX celebrates 20th anniversary

MUMBAI: Sony MAX, India’s leading premium Hindi movie channel from Sony Pictures Networks India (SPN) is celebrating 20 years of its glorious broadcasting journey in India this October.  Having pioneered the trend to showcase the best of Indian cinema, Sony MAX, over the years, has continued to...

Television TV Channels Movie Channels
Most-watched regional news channels

BENGALURU: Regional news is has more per capita consumption in respective languages than Hindi or English news . Further, the consumption of all regional news channels is larger than Hindi news.

Television TV Channels Viewership

Sign up for our Newsletter

subscribe for latest stories