Religare, Milestone create Rs 600cr fund

Enamored by the growth in the education and healthcare sectors, Religare Venture Capital has joined hands with private equity player Milestone Capital for managing a Rs 600 crore fund that would invest in the two sectors, which remain shielded from the global turmoil. Named India Build-Out Fund I, Religare has contributed Rs 60 crore to the corpus with some banks, insurance companies and high networth individuals already committing about Rs 110 crore. "The remaining Rs 430 crore is to be raised in the domestic market,'' said Milestone's MD Ved Prakash Arya. The fund has started working on six to seven deals and the average size of the deal will be between Rs 20-60 crore. The fund has a greenshoe option of Rs 200 crore and the life of the fund will be five years. Religare and Milestone equally own the education and healthcare fund.

According to Religare CEO & MD Sunil Godhwani, the association is to leverage each group's strengths. While Religare brings in its domain expertise on healthcare, Milestone has experience in the private equity space. The two- year old Milestone, floated by Arya, the former CEO of Pantaloons and Globus retail chains, manages 6 funds that invests in real estate and warehousing among other areas.

In recent years, the education and healthcare sector has seen several private equity deals. For example: Career Launcher, Educomp, NIIT, Veta, Eurokids and Mahesh Tutorials in the education arena. In the healthcare segment companies like Thyrocare, Dr Lal Path Labs, Apollo, Fortis, SRL and VLCC got funds from private equity players.

Both sectors are supply constraint in terms of infrastructure, good quality staff and services, according to Rajesh Singhal, managing partner of Milestone Religare Investment Advisors, and are price inelastic. As per the presentations made by the company, the Indian education sector is a large market worth about $80 billion in annual spends, of which the government accounts for $30 billion (3.7% of GDP) and private sector brings in $50 billion. This $50 billion is expected to increase to $80 billion in 2012.

The Indian healthcare segment is a $57 billion market. At 5.6% of GDP, India's healthcare spend is one of the lowest globally compared to other economies like China and Brazil. The private sector accounts for $34 billion and is expected to increase to $59 billion by 2012.

Distance Education Centers in India

Indira Gandhi National Open University (IGNOU)

Maidan Garhi
New Delhi 110 068, India
Telephone: +91-11-2953 3869, 2953 3870
Fax: +91-11-2953 5714
Registrar: Shri K.J.S. Prasada Rao
Website: http://www.ignou.ac.in

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Annamalai University

Annamalai Nagar - 608 002
Tamil Nadu
Telephone: 91 - 4144 - 238248/263/796
Fax: 91 - 4144 - 238080
Email: info@annamalaiuniversity.ac.in
Website: www.annamalaiuniversity.ac.in

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Madura Kamraj University - Directorate of Distance Education (MKU-DDE)

Palkalai Nagar, Madurai 625021
Ph: 0452-2458421
Website: www.mkudde.org / www.mkuniversity.org
Director: Dr S Manickam

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Dr B R Ambedkar Open University (BRAOU)


Road No. 46 Jubilee Hills, Hyderabad 500 033
PABX 040-3544743, 3544771, 3544830
Fax 91-040-244830
Tel 040-244830/ 248270
E-mail : braouap@hd1.vsnl.net.in
Registrar: Prof. E. Chandraiah
Website: http://www.braou.ac.in

***

Karnataka State Open University (KSOU)

Manasagangotri
Mysore - 570006, Karnataka, India
Tel.: 91-821-515149
Fax: 91-821-500846
Websitge: www.ksoumysore.com/
Registrar : Dr. T. Venkanna Gudda


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Annamalai University
Directorate Of Distance Education
Annamalainagar – 608 002

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Mahatma Gandhi Gramoday Vishwavidyalay
Institute Of Distance Learning And
Continuing Education
Chirakoot Dham –485 331
District Satna(Mp)

***
Awadhesh Pratap Singh University
Distance Education Centre
Rewa – 486 003

***

Mahatma Gandhi University
School Of Distance Education,
Collectorate P.O., Kottayam-686002

***

Bangalore University
Directorate Of Correspondence Courses
& Distance Education Central College
Campus,
Bangalore-560 001

***

Manonmaniam Sundaranar University
Directorate Of Distance And Continuing Education
3, Klprasanna Vinayagar Koil Street,
Palayamkottai-
Tamilnadu

***

Barkatullah Vishwavidyalaya
Institute Of Open And Distance Education
Bhopal – 462 026

***

Maulana Azad National Urdu University
Directorate Of Distance Education
Brindavan Colony, Toli Chowki,
Hyderabad – 500 008 Ap

***
Berhampur University
Distance Education Centre, Bhanja Bihar, Berhampur – 760 007

***

Mother Teresa Women’s University
School Of Distance Education,
Kodaikanal-624 102
***

Bharathiar University
School Of Distance Education
Coimbatore – 641 046

***

Nalanda Open University
9, Adarsh Colony,
Kidwai Puri,
Patna –800 001
Bharathidasan University
Centre For Distance Education
Tiruchirappalli – 620 024

***

National Law School Of India University
Distance Education Department,
Nagarbhavi,
Bangalore-560 072

***
Birla Institute If Technology And Science
Distance Learning Programs Division,
Pilani – 333 031

***

Netaji Subhas Open University
1, Woodburn Park,
Kolkata -700020,
West Bengal,
India
Tel.: 91-33-2873145
Fax: 91-33-2871082
E-mail : nsou@cal2.vsnl.net.in

***
U.P.Rajarshi Tandon Open University (1999)
17, Maharshi Dayanand Marg (Thornhill Road),
Allahabad -21100,
Uttar Pradesh,
India
Tel.: 91-532-621839
Fax: 91-532-621839
E-mail : sanyal@nde.vsnl.net.in

***
Central Institute Of English And
Foreign Languages
Department Of Distance Education,
Hyderabad-500 007

***

North Eastern Hill University
Centre For Distance Education, Bijni
Complex,,
Shillong-793 003

***

Chaudhary Charan Singh University
Institute Of Correspondence Courses
And Continuing Education
Meerut – 250 002



***

Osmania University
Centre For Distance Education,
Hyderabad – 500 007 Ap

***

Devi Ahilya Vishwavidyalaya
School Of Distance Education,
Khandwa Road,
Indore –452 001

***

Panjab University
Department Of Correspondence Studies,
Chandigarh – 160 014

***

Dr. B.R. Ambedkar Open University
Road No. 46 Prof. G. Ram Reddy Marg,
Jubilee Hills,
Hyderabad-500 033

***

Patna University
Directorate Of Distance Education,
Patna – 800 005

***
Dr. Baba Saheb Ambedkar Open
University
Government Bungalow No. 9 Near
Dafnala, Shahibaug,
Ahmedabad-380 003

***

Pondicherry University
Directorate Of Distance Education
University Campus, Kalapet,
Pondicherry – 605 014

***

Dr. Harisingh Gour Vishwavidyalaya
Department Of Correspondence Courses,
Sagar – 470 003

***

Punjab Agricultural University
Department Of Extension Education
(Correspondence Unit)
Pau,
Ludhiana – 141 004

***

G B Pant University Of Agriculture And
Technology
Directorate Of Extension
(Correspondence Course In Agriculture)
Patnagar – 263 145

***

Punjabi University
Department Of Correspondence Courses,
Patiala – 147 002

***

Gujarat Vidyapith
Department Of Education (Education
College) Ahmedabad-380 014

***

S N D T Women’s University
Centre For Distance Education
Sir Vithaldas Vidyavihar,Juhu Road,
Santacruz(West)
Mumbai-400049

***
Guru Ghasidas University
Institute Of Distance Education,
Bilaspur – 495 009

***

Sambalpur University
College Development Council (Distance
Education Cell)
Jyoti Vihar,
Burla,
Sambalpur – 768 019

***

Guru Jambheshwar University
Directorate Of Distance Education,
Hisar – 125 001

***

Shivaji University
Department Of Adult & Continuing
Education & Extension Work
Vidyanagar,
Kolhapur – 416 004

***

Himachal Pradesh University
International Centre For Distance Education
And Open Learning
Summer Hill, Shimla – 171 005

***

Sri Venkateswara University
Directorate Of Distance Education,
Tirupati – 517 502 Ap
***
Indira Gandhi National Open University
Maidan Garhi,
New Delhi-110 068
Tamil Nadu Agricultural University
Directorate Of Extension Education,
Coimbatore –641 003

***

International Institute For
Population Sciences
Department Of Extra Mural Studies
Govandi Station Road, Deonar, Mumbai
– 400 088

***

Tilak Maharashtra Vidyapeeth
Open Education Centre (Mukta Vidya Kendra)
Vidyapeeth Bhavan,
Gultekadi,
Pune – 411037

***

Jadavpur University
Adult, Continuing Education &
Extension Centre, Calcutta-700 032

***

University Of Allahabad
Institute Of Correspondence Courses
And Continuing Education
Chetham Lines ([Ress Building)
Allahabad – 211 002

***

Jain Vishva Bharati Institute
Department Of Distance Education, Jvbi,
Ladnun-341 306

***

University Of Burdwan
Directorate Of Correspondence Courses
Rajbati,
Burdwan – 713 104

***
Jamia Millia Islamia Urdu Correspondence Course(Department Of Urdu)
Jamia Nagar, New Delhi – 110 025

***

University Of Calicut
School Of Distance Education
Calicut University,
P.O. 673 635

***

Jawaharlal Nehru Technological
University
School Of Continuing And Distance
Education
Mahaveer Marg, Masab Tank,
Hyderabad – 500 028 Ap

***

University Of Delhi
School Of Correspondence Courses And
Continuing Education
Cavalry Lines,
Delhi – 110 007

***
Jiwaji University
Distance Education In India
Gwalior – 474 011

***

University Of Hyderabad
Centre For Distance Education,
P.O.Central University,
Hyderabad-500046 (ap)

***
Kakatiya University
School Of Distance Learning And
Continuing Education
Warangal – 506 009

***

University Of Jammu
Directorate Of Distance Education,
New Campus,
Jammu-180006

***

Karnataka State Open University
Manasagangotri,
Mysore-570 006

***

University Of Kashmir
Department Of Distance Education Naseembagh Campus, Hazratbal, Srinagar – 190 006

***
Kota Open University
Rajasthan, India
Tel.: 91-744-421254
Fax: 91-744-421769
Rawatbhata Road, Akelgarh, Kota – 324010

***

University Of Kerala
Institute Of Distance Education
Kariavattom,
Thiruvananthapuram –695 581
Kurukshetra University
Directorate Of Correspondence Courses,
Kurukshetra-136 119

***

University Of Madras
Institute Of Correspondence Education
Chepauk, Chennai – 600 005
Lalit Narayan Mithila University
Directorate Of Distance Education
Kameshwaranagar,
Darbhanga – 846 004

***

University Of Mumbai
Institute Of Distance Education,
M.G.Road,Fort Campus,Mumbai-400032

***
Madhya Pradesh Bhoj (Open) University
Red Cross Bhavan, Shivaji Nagar,
Bhopal-462 016,
Madhya Pradesh,
India
Tel.: 91-755-550606
Fax: 91-755-550606
E-mail : rr@rbubhop.mp.nic.in

***

Utkal University
Directorate Of Distance & Continuing
Education
Vani Vihar, Bhubaneswar – 751 004

***

Vidyasagar University
Directorate Of Distance Education,
Midnapore – 721 102

***

Yashwantrao Chavan Maharashtra
Dnyanagangotri, Near Gangapur Dam, Nashik-422005,
Maharashtra,
India
Tel.: 91-253-340228
Fax: 91-253-341716
E-mail : ycmou@vsnl.com
Website : www.ycmou.com
***
Alagappa University
Directorate Of Distance Education,
Karaikudi – 630 003

***

MaduraI Kamraj University
Directorate Of Distance Education
University Buildings, Palkalainagar,
Madurai – 625 021

***

Andhra University
School Of Distance Education
Visakhapatnam – 530 003

***
Maharshi Dayanand University
Directorate Of Distance Education,
Rohtak – 124 001