The EuroKids deal marks its foray into the space but worldwide KKR has executed transactions in education across geographies.
The sources said growth capital firm General Atlantic was also engaged in a possible transaction involving EuroKids.
The EuroKids Group consists of Eurokids International Pvt Ltd, Euroschool Properties & Infrastructure and Euroschool International. It also owns schools such as Billabong High and Kangaroo Kids.
The group generated revenue of Rs 350 crore in FY18, and most recently around Rs 450 crore. It has been growing around 22 per cent a year, sources said, adding that its strategy has been to offer quality education at strategic locations across the nation.
While, Gaja Capital, which acquired 50 per cent in EuroKids in 2013 along with its Swiss investor Partners Group, increased its stake in five years to about 75 per cent.
EuroKids has around 1,000 schools in 360 towns in India, Nepal and Bangladesh while EuroSchool runs a chain of 10 K-12 schools in six Indian cities.
Its global deals include investments in the UK-based Cognita Schools which offers K-12 education as well as the Baltimore-based Laureate International Universities, an American network of colleges.