Educomp Solutions, a publicly listed integrated education company, has decided to sell its stake in engineering test preparation player Vidya Mandir Classes for Rs 90.56 crore. Educomp picked up a majority stake in Vidya Mandir Classes for about Rs 34 crore in 2010. The move was to strengthen its presence in the test preparation segment in the country. Educomp has already established its presence in various segments of education – from kindergarten to higher education and is rapidly building its exposure in the test prepration and vocational education business.
Founded in 1989, Vidya Mandir Classes is a test preparation institute, which was also the first one to launch coaching for IIT-JEE (Joint Entrance Examination for Indian Institutes of Technology in India). The institute also prepares students for other engineering entrance examinations such as AIEEE, NSIT, DCE and BITS. It offers regular classes, online and correspondence courses for preparation of engineering entrance exams with almost 10,000 students every year.