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| Exchange Disseminated Time | MT Educare Ltd has informed BSE that the Company has entered into Shareholders' Agreement dated April 1, 2013 with 'Lakshya' and its shareholders with respect to acquire 51% stake in Lakshya Forum for Competitions Pvt. Ltd. ("Lakshya"), a leading North India based IIT Entrance teaching institute.
Further, the Company has informed that 'Lakshya' holds 10 % stake in Lakshya Educare Private Limited (subsidiary of MT Educare Limited) a Special Purpose Vehicle ("SPV") created for the purpose of launching JEE advanced coaching services in Mumbai and rest of India. MT Educare Ltd. holds 90% stake in this SPV. |
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