IL&FS Education and Technology Services (IETS), has raised private equity capital of Rs 172 crore from India Equity Partners (IEP) through a combination of primary and secondary capital, a company statement said here.
IETS is a leading education services player in the areas of primary education and vocational training.
IETS, an education-focused subsidiary of the IL&FS Group, provides holistic end-to-end solutions in education and training to schools, colleges, vocational training institutes, Governments and the corporate sector.
IETS, through its subsidiary IL&FS Cluster Development Initiative (ICDI), plays a leading role in developing industrial clusters to augment the competitiveness of Indian industries and provides vocational training programmes targeted at youth who can be employed in these industries.
"IEP's global relationships and access will provide a larger platform and global presence to IETS. This partnership will enable us to achieve the growth targets set by the company for the medium-term," IL&FS Managing Director Hari Sankaran said.
India Equity Partners is an India-dedicated growth-oriented long-term private equity fund with offices in Mumbai, New York and Mauritius.
The IEP Principals manage over $2-billion of India-focused capital across various asset classes.
