NMS to invest Rs 9 crore to set up B-school in Chennai

MUMBAI: The National Management School (NMS) which is planning to set up 25 business school across the country will invest Rs 9 crore to set up its first management school in Chennai.

The business school which is being promoted by academicians from the US will offer diploma to students in collaboration with the Georgia University of the US.

The first school will be operational in Chennai by April end for which a property has been taken on lease.

NMS dean P Sanakarn told ET : "We are investing on intellectual property. That���s why we have taken property on lease rather than buying it."

A Chennai-based real estate promoter R. R. Industries has invested Rs 4.7 crore in the school and the rest being funded by the professors who are the founder members of the school.

NMS plans to build 25 schools nationwide in 15 years. NMS will provide a two-year diploma in business management at a total cost of Rs 9.6 lakh.

The institute will enroll 240 students for its June 2009 batch.

Mr Sankaran said," Currently three lakh students are looking for MBA education in India. So there is a huge demand for business school".

The board of the governors include academicians and consultants, Prof P. V Indrisean, former director IIT Madras; Dr. R.K Raghavan, former director CBI; Dr. V Kumar, Professor marketing, Georgia university, USA.