QInvest Acquires a Stake in Leading Indian Education Company

Doha, Qatar - Sunday, January 16th 2011 [ME NewsWire]
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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.”

About QInvest

QInvest was licensed by the Qatar Financial Centre Authority in April 2007 and is authorised by the Qatar Financial Centre Regulatory Authority. The firm has authorized capital of USD 1 billion and paid up capital of USD 750 million.

Led by Chairman H.E. Sheikh Jassim Bin Hamad Bin Jabr Al Thani, and Chief Executive Officer Shahzad Shahbaz, QInvest has created a world class investment banking capability operating under Sharia’a compliant structures, with the highest standards of governance and transparency.

The QInvest shareholder structure includes Qatar Islamic Bank and other institutional investors, as well as prominent high net worth individuals from across the region. The platform offers a broad range of expertise which enables QInvest to deliver a high value service to clients, seamlessly covering advisory, financing and investment needs.

QInvest’s business lines include investment banking, investment management, brokerage and wealth management, with dedicated origination and placement teams.

With over 130 staff, including 65 front office professionals, QInvest’s talented team of investment bankers brings a valuable mix of both international experience and regional knowledge, enabling the Firm to pursue opportunities across its chosen markets of the Middle East, Africa, Turkey, South Asia and South-East Asia.

Extending beyond this geographic focus, the firm also pursues opportunistic transactions globally where it identifies high value propositions for clients.

www.qinvest.com
Contacts

Bassel Hanbali

Head of Marketing & Corporate Communications

Telephone: +974 4405-6666

Email: bassel.hanbali@qinvest.com