Education has always been a prime driver for India's growth into the new economy and the coveted engineering degree from the IITs has always been looked upon as the epitome of technical education in the country. Resonance is one of the leading players in test preparation for the IIT-JEE exams and has grown from strength to strength in the past 9 years of existence.
"Education is a high growth and relatively recession proof sector, which is rapidly evolving. We are extremely excited to be partners in the future growth of Resonance, which under the leadership of Mr. R K Verma has already established itself as a premier education services player, with a significant nationwide presence. We look forward to working closely with Mr. R K Verma and the Resonance team to take advantage of the opportunities which the education sector offers" said Mr. Rajesh Singhal, Managing Partner- Milestone Religare Investment Advisors, who will be joining the Board of Resonance.
Mr. R K Verma, Chairman and Managing Director, REPL said, "It's a great and happy moment for us to announce the strategic partnership of Resonance Eduventures Pvt. Ltd. with Milestone Religare. Since its inception in 2001; Resonance has shown speedy progress in IIT-JEE coaching segment in terms of success, growth and winning the trust of students' fraternity with its sincere, committed and 'students always first' approach. With Milestone Religare; our vision of 'Excellence in Career Education' shall strengthen further and this association will be of great assistance to us in reaching the higher echelons in formal & parallel education space. The strategic association with Milestone will surely propel us in developing ourselves into a leading global educational services organization."
Milestone Religare Investment Advisors Pvt Ltd:
Milestone Religare Investment Advisors Pvt Ltd, a joint venture between Milestone, one of India's premier independent fund houses, and Religare, one of the leading integrated financial services groups of India, manages India Build-out Fund - I which is a private equity fund focused on education & healthcare with a fund size of Rs. 6 billion. The Fund has already made investments in Healthcare Global Enterprises (HCG), Krishna Institute of Medical Sciences (KIMS), a Hyderabad based multispecialty hospital and IMS Learning Resources, an MBA test preparation company.
For more information on Milestone Religare Investment Advisors Pvt Ltd, please log on to www.milestonereligare.com
About Resonance Eduventures Private Limited (REPL)
Resonance was established in Kota, Rajasthan, in 2001 by Mr. Ram Kishan Verma, an IIT Madras alumnus, and since then it has witnessed rapid growth. Since inception the focus of the tutoring has been towards IIT-JEE and over the last eight years 5276 of its students have cleared the examination from its various programmes.
Starting from about 1,000 students in the first year, Resonance enrolled over 20,000 students in its classroom programs and over 8,000 students in its distance learning module last year. Though Kota continues to be the mainstay of Resonance's operations, accounting for over three-quarters of the enrolments, the Company has, over the past two years, begun to expand into other cities in India by establishing its own centres and associating with schools. Presently, apart from Kota, Resonance has study centres in Jaipur, Bhopal, Delhi, Lucknow, Kolkata, Nagpur, Mumbai, Udaipur, Bangaluru, Bhubneswar and Rajkot.
Apart from the flagship IIT-JEE program, the Company also conducts classes for pre-foundation level programs (NTSE, Olympiads, etc.) for students of classes VII to X. It has over 2,000 students enrolled for the classroom program and a similar number for the distance learning module. ###