The Shiv Nadar Foundation on Wednesday outlined plans to enter the K12 education space.
The foundation will set up 25 Shiv Nadar Schools across India by 2020, and the first of these will come up in Noida and Gurgaon next year. Each school will be built on 5-6 acre campus. The Noida and Gurgaon sites are under construction, while other locations are yet to be finalised.
The not-for-profit schools initiative will be funded by the foundation, which also has under its aegis SSN Institutions (SSN College of Engineering, the SSN School of Management and Computer Applications and the SSN School of Advanced Software Engineering), the VidyaGyan schools and, more recently, the Shiv Nadar University.
The VidyaGyan school is a social initiative conceived by HCL Founder and billionaire Mr Shiv Nadar. While the VidyaGyan schools hand pick the brightest students from scores of villages in Uttar Pradesh and provides them free education, the Shiv Nadar School will be a fee charging school in urban areas (the monthly fees will be pegged at Rs 7,000-8,000).
The foundation did not divulge the quantum of investments that have been earmarked for Shiv Nadar School initiative in the coming years. It may be recalled that last year, HCL Corporation – promoted by Mr Nadar and his family – sold 2.5 per cent stake in HCL Technologies to raise over Rs 581 crore.
The proceeds from the sale were pumped into the Foundation's philanthropic initiatives in the field of education. In fact, reports suggest that Mr Nadar has mobilised $400 million towards the education initiatives so far, and could spend another $600 million in the next five to seven years.