India’s largest mortgage lender Housing Development Finance Corp. (HDFC) is picking up a stake in Indus World Schools for Rs 50 crore, a chain promoted and run by education firm Career Launcher (CL). Private equity firm Gaja Capital Partners, an existing investor, is also co-investing in this round.
Career Launcher Education Infrastructure & Services, which operates Indus World Schools, opened the first school in 2005 at Hyderabad and the second one in 2006 at Indore. Since then the School chain has grown to eleven in 2010 with schools in the NCR, Himachal Pradesh, Haryana, Raipur, Ahmedabad, Aurangabad and Jalgaon. New schools are expected to come up in Karnataka, Haryana and a second school at Hyderabad.
Indus World Schools also partnered with realty firm Shriram Properties last year to open 25 schools in townships being developed by the latter in cities like Chennai, Bangalore, Kolkata and Visakhapatnam. Via HDFC Invests Rs 50Cr In Career Launcher’s Indus World Schools – VCCircle