Financial Daily from THE HINDU group of publications
Tuesday, Sep 07, 2004
Financial Daily from THE HINDU group of publications Tuesday, Sep 07, 2004 |
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Info-Tech
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IT Training Jetking in talks to buy varsity Moumita Bakshi
New Delhi , Sept. 6 KEEPING in line with its plans to set up its own University, computer hardware and networking institute Jetking is mulling purchasing an existing private university in Uttaranchal or Chattisgarh. "We are considering opening Jetking University. We will do it either by purchasing an existing private university in Uttaranchal or Chattisgarh, or by setting it up on our own," Mr Suresh G. Bharwani, Chairman and Managing Director of Jetking, told Business Line. He said that investment for the venture was estimated at about Rs 12 crore to be partly funded through internal accruals. "About 25 per cent of the investment would be supported by internal accruals. The balance would come through a mix of equity and debt. We plan to go for another public offer and also take loans from banks," he pointed out. He said Jetking was already in talks with two private universities, one each in Chattisgarh and Uttaranchal, but declined to divulge the names. "It may not necessarily be a 100 per cent buy out. The deal could be a majority purchase," he pointed out. Jetking University would offer IT education encompassing hardware and networking, security and telecom curriculum. It may also include bio-informatics, at a later stage. In the first phase, the proposed University would offer Bachelors degree in IT. He hoped that Jetking University would be established by next March.
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