Helix buys 30% stake in Mahesh Tutorials

Mauritius-based fund Helix Investments has put in $12 million to buy nearly 30 per cent equity stake in MT Educare Pvt Ltd. This is perhaps the first foreign investment in a private tutorial institute.

MT Educare is the holding company of Mumbai-based Mahesh Tutorials, which runs the country's largest school and college tutorial chain and is gaining ground in multiple new training segments. With more than 100 centres, Mahesh Tutorials has a strong presence in Mumbai.

The funds raised would be utilised to expand their operations across India and even in global centres, said officials.

It has already established its first international center at Al Karama in Dubai. The company also plans to leverage technology in the delivery of education solutions across a wider audience as well as provide complementary online solutions.

"I am very excited about this partnership with Helix Investments and view this as a historic occasion within the education industry. We share a common vision of expanding Mahesh Tutorials into a world class organisation while making a positive contribution to quality education in India." said Mahesh Shetty, founder and chairman of Mahesh Tutorials.

"We are proud to be part of their future growth plans, "said David Danziger, MD of Helix Investments.

Helix Investments is an India-focused investment pool backed by the Cullman and Bloomingdale families. It makes investments of $10-$20 million in companies in their growth stage from sectors such as FMCG, logistics and infrastructure companies and education-related companies. Unlike other private equity funds, its capital has no expiration date so it can hold investments on a long term basis.

It has previously invested in Goodlife Integrated Fitness Solutions, an India-based healthy prepared food delivery company doing business as Calorie Care as well as OSi, a medical transcription outsourcing company.

Polymath Advisors was the exclusive advisor for the transaction.