Anand Rathi Advisors announced that the Narayana Group has successfully raised financing to facilitate an exit for its Private Equity investors, Morgan Stanley Private Equity and Banyan Tree Capital.
Incorporated in 1979, Narayana group is one of the largest education institution in K12 segment and caters to full student life cycle from pre-primary to junior college with 480K+ students across 800+ centers in 22 states. Apart from K12, the group also provides private coaching services to students for professional courses such as NEET, JEE etc.
The financing arrangement has been anchored by Barclays and saw participation from Singapore sovereign wealth fund GIC and Axis Finance as part of the lending consortium. This strategic move not only bolsters Narayana Group’s financial foundation and strong track record but also reflects the trust and confidence that institutional investors have placed in the Group’s vision and potential.
Morgan Stanley Private Equity and Banyan Tree Capital had acquired stake in NSPIRA Management Services Private Limited in mid-2018. Anand Rathi Advisors acted as the exclusive financial advisors to the Narayana group for providing an exit to its PE investors for ~ USD 160 Mn
Puneet Kothapa (MD & CEO – NSPIRA) remarked, “This transaction showcases the group’s ability to attract marquee investors and capitalize on opportunities for sustainable growth. Further, the decision to provide an exit to our investors stems from our steadfast belief in the potential of our activities. Over the years, we have worked diligently to build a company that not only delivers exceptional educational services but also creates enduring value for all stakeholders. Anand Rathi has consistently demonstrated remarkable commitment to our company. They have not only brought marquee investors on board but also provided invaluable guidance throughout the exit process, showcasing unwavering dedication and strategic foresight as our trusted house bankers for past 7 years.”
Sindhura Ponguru (Co-founder & Director – NSPIRA) remarked, “Narayana Group has always been driven by innovation, and this financing milestone will open up new doors for the Group to further expand its reach. Our focus remains on empowering students with knowledge, skills, and opportunities to prepare them for a successful future. We are thankful to our investors for their belief in our mission and are enthusiastic about the future and the positive impact we will continue to make in education. Additionally, I commend Anand Rathi for their deep understanding about the education sector and efficient and prompt efforts throughout the process.”
Speaking on the transaction, Samir Bahl (CEO, Anand Rathi Advisors) commented, “As house bankers to the Narayana group, we are absolutely delighted to arrange and advise them in yet another round of financing. We believe that this deal reinforces the group’s exceptional track record and unwavering commitment towards delivering attractive and time-bound investor exits.”
Other agencies involved in the process include Barclays Bank (Mumbai), who acted as the lead arranger, DSK Legal, acting as the company counsel, and CAM, serving as the investors counsel.