Nspira Management Services Pvt. Ltd, an educational management service provider has raised around ₹514 crores ($75 million) in equity investment from Morgan Stanley Private Equity Asia (MSPEA), Morgan Stanley’s private equity arm, along with BanyanTree Growth Capital II.
In a statement, Nspira has said that the fund MSPEA has invested around ₹460 crores ($67 million) as primary capital for a minority stake in the company. The funds raised will be used to fuel the future organic and inorganic growth plans of the company by increasing the client base along with developing the new education-based products.
Puneet Kothapa, Managing Director of Nspira, said, “We will be deploying the funds to scale our business geographically, increase our client base, develop cutting-edge education products, modernize our facilities and scale up our digital business. We will also evaluate inorganic opportunities that are synergistic with our core business and help us diversify our offerings,”.
Nirav Mehta, Managing Director of Morgan Stanley Private Equity Asia in India, said, “Education service is one of the core focus sectors for Morgan Stanley across Asia. We believe private education in India is poised for a strong growth phase. Nspira is a leading player in the sector and has been instrumental in supporting the delivery of quality education to the masses at affordable prices,”.
Nspira provides a myriad of services to its clients to help them achieve professional efficiency. Its main focus is the educational institutions, it is equipped with providing end-to-end administrative services along with IT solutions, facilities management, sales & marketing, etc to its clients.
It currently provides its services to around 500 educational institutions helping over 400,000 students across 13 states in the country. It helps the educational institutions with administrative support, IT support along with developing content for the exams, designing curriculum for the schools and colleges, hotel management services, catering, etc.
Other players big players in the education domain include Byju’s and Manipal Global Education. While players in the educational management service providers space include the likes of Hyderabad-based Varsity Education Management Pvt. Ltd, Kangaroo Kids Education Ltd, along with MT Educare Ltd, BanyanTree had been an investor in the company earlier.