The DRS Group plans to set up 50 schools on a franchisee-mode across the
country by 2015.
Of the total, the first five schools at Nagpur and Amravati (Maharashtra),
Hyderabad,
Bengaluru and Ranipet (Tamil Nadu) are likely to be opened through the
group's brand Edify Education by December 2010. Thereafter, the group is
planning to add ten schools every year.
Apart from this, the group is likely to set up 10 schools on its own brand
DRS International. The group is likely to raise Rs 150 crore for these schools
through the PE funding route. A separate SPV, in which the PE partner could take
up to 50 per cent stake, is likely to be created for setting up these schools.
The company has roped in ENAM Securities for the fund-raising exercise.