Chennai-based education services, e-learning, and e-tutoring company, EdServ Softsystems, has fixed its qualified institutional placement (QIP) issue at Rs 205 a share, following a meeting of committee of directors. The QIP issue was part of the company?s decision in the previous quarter to raise around Rs 130 crore in QIP. Proceeds will be utilised for expansion.
Commenting on the utilisation of funds, S. Giridharan, chairman and CEO, EdServ said, ?The proceeds of the QIP issue will be utilised to fund the company’s plans in the Schools segment where it is investing in several schools this year, its new LAMPSGLOW online web super store education business model, its infrastructure expansion and towards expanding its presence pan-India in the higher education and career placement segments.?
The company is tapping the online tuition and test preparation space through its portal http://www.lampsglow.com http://www.lampsglow.com starting at Rs 199.
EdServ?s online offering includes Engineering semester exam support for civil, mechanical, circuit branches, IT/CSE, Tamil Nadu Anna University syllabus fully covered, IIT JEE with sure-shot papers and with over 2,500 videos of lectures/solutions, AIEEE with sure-shot papers with videos and Job oriented / IT skill courses like C/C++, Java, , apart from live tuition online, he added.
On the expansion of school project, through its Vidhyadhana Academy, EdServ will implement learning management systems, School & Student Management Systems and fun-filled learning systems with gaming Solutions to achieve higher standards of student learning and performance.