Nikhil Gandhi of SKIL Infrastructure is in talks to acquire a significant stake in the Chennai-based education services firm Everonn Education. According to executives close to the development, Gandhi may finalise a deal for a stake that is in the higher single digits, and not 26 per cent as has been reported.
“Yes, Nikhil Gandhi is in talks with the company. It is certainly not 26 per cent as stated in some reports. But it is still early days. He might look at a stake in the higher single digits,” said a senior executive at Everonn on condition of anonymity.
Everonn Education had informed the stock exchanges on Thursday that a meeting of the company’s board would be held on July 19 to consider and approve the issue of redeemable optionally convertible debentures to persons not forming part of the promoter/promoter group. Everonn Managing Director P Kishore refused to comment on the latest development.
The company has announced plans to set up seven management institutes at a cost of Rs 25 crore each by the next academic year.
