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Helix eyes 2.5x return from MT Educare part-exit

26 Mar 2012

India-focused private equity fund Helix Investments stands to make up to a 2.5 times return through its part-exit from tutoring company MT Educare.

The Mumbai-based company is currently attempting to raise up to $7m in a share-issue alongside the Helix share sale, which represents about 80 per cent of the firm’s investment.

It bought a 28.6 per cent stake in MT for $8m in 2007 through compulsory convertible preference shares, which were converted in 2009.

The company is looking for a valuation of about $63m through the share issue, which represents 39 times its one-year-old earnings.

Helix also owns stakes in e-learning solutions provider LearningMate and electronics company Hi-Rel.

It targets investments of between $5m and $15m through its $100m fund, which is backed by Culbro and Bloomingdale Properties.

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