QInvest, Qatar’s leading investment bank, has acquired a stake in FIITJEE Limited, India’s leading test preparation company for engineering and medical entrance examinations.
FIITJEE was founded in 1992 by Dinesh Kumar Goel initially to train students for the highly competitive entrance examinations for the prestigious Indian Institutes of Technology (IITs). Currently, the Company has in excess of 30,000 students enrolled in its coaching programs across 50 centers and 35 integrated school programs in India and the Middle East. The Company’s programs have consistently delivered superior results, with IIT acceptance rates of its students ten times above the national average. FIITJEE has recently expanded its programs to include training for SAT, Olympiads and National Talent Search Examination (NTSE), a national level scholarship program in India to identify and nurture talented students.
Commenting on the deal, Dinesh Kumar Goel, Chairman of FIITJEE, said: “Partnering with QInvest will help FIITJEE establish a stronger presence in the Middle East, as education represents the key priority in the region, especially Qatar.”
Anuj Khanna, Head of Investment Management at QInvest, said: “We are very impressed by FIITJEE’s growth and consistent track record over the past decade. Every year in excess of 450,000 students aspire for approximately 9,000 slots at one of the coveted IITs and the number of aspirants continues to increase. The test preparation market in India is estimated to be approximately $2bn and is growing at a rate of 15-20%. FIITJEE is uniquely positioned amongst its competitors as a result of its superior course content, faculty and teaching skills, pan-India presence and outstanding reputation.”
QInvest Acquires a Stake in Leading Indian Education Company