MT Educare, which runs Mahesh Tutorials and Lakshya Coaching brands, is planning an IPO for its online education technology platform Robomate on the stock exchanges, The Economic Times reported.
Zee Group-backed MT Educare has initiated discussions with merchant bankers and valuers to initiate the listing process, the report said citing unnamed bankers.
Robomate is valued at Rs 700 crore by one of the Big Four audit firms, the report.
The funds raised from the IPO will be used for the next level of growth, the report said. Robomate, which started as a pilot project in 2012, is expected to replace the century-old chalk and talk method of teaching and help revolutionise the modern day teaching.
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