Wednesday, 19 October 2011

NSDC Invests Rs4.5Cr in NSDC-Laurus SPV For A 27% Stake

NSDC and Laurus are setting up a SPV with an objective to train over 11 lakh students over the next 10 years by setting up over 546 centres. Out of the 546 centres 55 will be through acquisitions, 157 greenfield facilities, 328 franchisees and six through TOT Advanced Training Centres.
These centres would focus on Tamil Nadu, Andhra Pradesh, Karnataka, Orissa, Madhya Pradesh, Gujarat, Maharastra, Rajasthan and Bihar. The sectors targeted includes automotive, construction, textiles, electronics and IT hardware and education and skill development sector.
The total project cost is about Rs. 54 crores out of which over Rs. 40 crores will be brought in by NSDC. NSDC would put in Rs 4.5Cr as its Equity contribution and the balance by way of loan to the SPV. Laurus Edutech will be contributing about Rs14Cr as equity towards the 73% stake.

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