Flex Class External Shareholders To Float PE Fund Headed By Rahul Kumar
Flex Class earlier wanted to sell 48% equity, but few external shareholders have joined the bandwagon to dispose off their equity too which elevated the number to 65%.
The shareholders who owns 14% equity in Flex Class Holdings is all set to garner $140 million or Rs 938 crore all of which will be moved to Seychelles based private equity fund which has plans to deploy these funds in the Indian startups.
The fund will be headed by Rahul Kumar and his key partner.
At a valuation of $41 billion these shares could have been worth $5.65 billion or Rs 38,000 crore but are now worth under $150 million or Rs 1,000 crore.
The 14% shareholders have no intent to remain shareholders in the new company for a long term and will eventually sell all their holdings to fund the planned private equity fund structure.
The acquirer will take the holding company public to raise funds and provide working capital for the business.
The founders of Flex Class Holdings are making sure that the deal goes through as it is the only chance for the company to attain revival.
Flex Class has plans to launch online education market place and will launch courses with up-to 95% instant cash back. The company is in talks with leading content developers. The company plans to achieve $1 billion or Rs 6,700 crore in revenues from around $180 million or Rs 1,206 crore yearly revenue.
Flex Class will launch Diploma based courses in India and Bangladesh which will open for 2 million students initially.
A pioneer in online education for professionals, we create course programs, exams, and lab projects that help professionals across the world successfully prepare for and complete certification exams with ease. Our unique blended model of training brings together the best of self-learning and online training, making for a successful learning experience.
We strive to constantly improve our learning frameworks to make them more user-friendly. Our courses are upgraded continuously to ensure our learners are up-to-date on the latest industry requirements and best practices.
We assist our learners in applying for the certification exam of their choice, and our vibrant community of experts and certified professionals is a powerful resource pool of tips, tricks, and insightful advice.
Flex Class India
Postal Address: Statesman House Connaught Place New Delhi - 110001
Press Contact: Thomas Mueller
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