HDFC picks up stake in CL Educate

MUMBAI: Housing Development Finance Corporation ( HDFC) has picked up a stake in leading education service provider CL Educate.

Led by a team of IIT-IIM alumni, CL Educate - better known as Career Launcher - is a diversified education services company with a strong presence in coaching/test preparation, vocational/skills education, publishing as well as in K12 schools.

HDFC had, in 2011, acquired a strategic stake in the schools subsidiary (Indus World School) of CL Educate. The latest transaction brings HDFC to own stake in all the businesses of CL Educate.

“CL is led by a competent team that has built a very potent platform in education. Their values-driven and hands-on approach makes them a front runner to build a strong education brand in India,” said Renu Karnad, MD and board member, HDFC in a release.

HDFC itself has announced its own first school (The HDFC School) in Gurgaon near New Delhi. The admissions for the first batch have just started. HDFC has been looking at the skills and vocational space with a lot of keenness and CL has a considerable presence in that sphere as well.

Satya Narayanan R, Founder-Chairman, CL Educate, said, “In an opportunity called India, we have an opportunity to build a trusted and hugely successful education brand.”