MT Educare, which runs Mahesh Tutorials and Lakshya coaching brands, has initiated discussions with merchant bankers and valuers as  the company is planning an IPO for its online educational technology platform Robomate on the stock exchanges.
Zee Group-backed company valuation exercise undertaken by one of the Big Four audit firm has put the valuation of Robomate at around Rs 700 crore, funds raised from the IPO funds will be used to scale it up to the next level of growth.
Zee Learn holds 59 percent and 24 percent as on date, held by founder Mahesh Shetty. Last year, Zee Learn had acquired controlling stake in MT Educare by infusing around Rs 200 crore followed by an open offer at a price of Rs 72.76 per share.
In context to e-learning programmes, companies like Byju’s are already unicorns in terms of valuation which has now reached a mammoth $5.4 billion after a recent fresh funding of $25 million by its existing PE investor General Atlantic.
Read EquityPandit’s Technical Analysis of Nifty