Navneet Education investee company K-12 Techno Services is likely in deal talks, sources informed CNBC-TV18. Kedaara may invest $130 m (approx Rs 1,000 crore) in K-12 Techno Services. It is likely to buy-out an existing investor and infuse fresh capital, according to sources.

Share Market Live

NSE

The deal valuation is likely at 25-30 percent premium to last fund raise round.

Sources have informed CNBC-TV18 that private equity investor Kedara Capital is likely to invest close to Rs 1000 crore into K-12 Techno Services.

Additionally, this particular fund infusion will involve buying out certain percentage if stake in an already existing investor at K-12 and along with that there will also be an infusion of fresh fresh equity capital.

This particular deal will value K-12 Techno Services at a 25-30 percent premium to the previous round of fund raise at Rs 3,000 crore.

Why is Navneet Education is in focus?

Navneet Education owns close to 22 percent stake in K-12 Techno Services ad per the company's last investor presentation. Further a sharp upward revision in the valuation of K-12 Techno Services will benefit the company.

What does K-12 Techno Services do?

The company provides elementary education to students from Kindergarten to class 12.

Sequoia Capital and Navneet LLP are primary investors in the company. Navneet Education and Kedara Capital have not responded to CNBC-TV18's query.

First Published:Aug 29, 2023 2:45 PM IST