Tree House Education & Accessories, a pre-school education services provider, has raised ₹2 billion (US$32 million) through a qualified institutional placement. The deal involved the issue of 4.5 million equity shares with a face value of ₹10 each at a price of ₹440 per equity share.
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Tree House has over 500 pre-schools in 75 cities in India which it operates on its own and through its franchisees.
Luthra & Luthra was the Indian counsel to bookrunning lead managers CLSA India, India Infoline and Inga Capital. The team included partner Manan Lahoty, managing associate Ravi Dubey, senior associate Komal Mehta and associates Aashima Johur, Sampada Bannurmath and Aditya Vikram Singh.
Jones Day was the international counsel to the bookrunning lead managers.
Tanvish Bhatt, a partner at Wadia Ghandy & Co in Ahmedabad, advised Tree House.
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