The multi million dollar coaching business for IIT-JEE have suddenly become aware of this and are coming up with plans expand their business to list themselves on the stock exchanges of the India Stock Markets.
Kota from Rajasthan has been in the news since more than a decade, for its coaching classes for one of the toughest exams of the world, the IIT-JEE. Now, these coaching institutes which have been minting money from lakhs of students and sending a few hundred of them to IITs have decided to make more money and come out with business plans. They now want to set up their own private universities.
Bansal Classes plans to open its own engineering college, citing the reason that due to limited number of seats at IITs, many deserving candidates cannot make it to the IIT. Hence, our engineering colleges will provide a good option to such students (????)
Career Point will soon begin the Institute of Vocational Studies in Kota and across the country. Allen Career Institute, too, has grand designs in the pipeline. If all goes well, it will in the near future own a university in the city.
As per the news on ET, Career Point is planning an IPO of more than Rs 100 crore and is keen that the project takes off in double quick time. "If reputed coaching centers set up engineering universities brilliant students will have more options and more talent will be added to the country's pool,” said Pramod Maheshwari, the Career Point CEO who is in talks with TAFE, South Australia, to set up his institute. It already has 60 branches across the country, enrolling 30,000 students every year. A whopping 12,000 are splintered across Kota alone.
Naveen Maheshwari of Allen Career is equally effusive about the future. "Given the demand for quality higher education it makes sense for devising such grandiose designs," he said. "There is room for many more private universities like this. We have a brand name that can be leveraged for our university. There truly is scope for such institutions.”
Well, coming out with an IPO or business plan is a different thing. Citing a reason for the same is completely different. Are IIT the only premier institutes and after IIT, there are no premier institutes in this country. Correct? So that’s why, these coaching institutes now plan to setup their own PRIVATE engineering colleges, which, they hope will be just after the IIT standards. Have they forgotten that there are numerous other institutes like RECs (NITs), Other prominent colleges from both government and private sector which are the second best?
| Coming to the investments part, I would say one should apply for such IPOs, because they are one of the safest businesses over a long term of 5 to 10 year or more. | Table of Contents |
No comments:
Post a Comment