The Rajasthan-based tutorial service provider Career Point Infosystems plans to raise Rs 115 crore through an initial public offer (IPO) to upgrade the infrastructure at the institute.
"We are planning to go public to raise Rs 115 crore and the issue is expected in 20 days," Pramod Maheshwari the CMD of the company told PTI here today.
"Approval from Securities and Exchange Board of India (Sebi) has come to us," he said, adding, "Ours may be the first educational company to go public."
With the money raised from public, the 17-year-old institute will build residential complexes for 3,000 outstation students, who come for coaching of IIT-JEE, IEEE and other entrance exams, Maheshwari said.
The fund will be utilised for building office facilities at Kota as the company is also into educational consultancy and management services.
Career Point Infosystems has 35 study centres across the country with 18 franchises in Kota.