Navneet Education announces amalgamation and demerger to bolster edtech and publication sectors
Navneet Education Limited (NEL), a major player in educational syllabus-based supplementary content, has revealed a groundbreaking Composite Scheme of Arrangement. This strategy involves the amalgamation of Genext Students Private Limited and the demerger of Edtech business from Navneet Futuretech Limited into Navneet Education Limited. The scheme aims to rationalize the group structure, ensuring enhanced synergies between the publication and Edtech sectors. This strategic move aligns perfectly with NEL’s vision to expand both digital and publication offerings, known as their ‘phygital education solutions.’
Phygital Education Strategy for Enhanced Synergies
The Composite Scheme of Arrangement is engineered to bring about cost rationalization, while leveraging existing NEL workforce and resources across both product lines. Commenting on this, Gnanesh (Sunil) D Gala, Managing Director of Navneet Education Limited, said that the decision is in sync with their vision to provide optimal educational solutions for students and schools. “This is a major step in redefining the future of NEL’s Ed-Tech and publication business,” said Gala.
Unlocking the Future of Education
The scheme has been designed to recognize the intrinsic connection between the Edtech and book publishing businesses. “It will serve as the key to unlocking the future of education,” Gala emphasized. This restructuring not only allows NEL to diversify its product offerings but also positions the company at the forefront of the evolving educational landscape.
Cost-Effective, Resource-Efficient Growth
According to Gala, the new strategy will help curtail the current losses being experienced by both Genext Students and Navneet Futuretech. “We will harness the full potential of our existing NEL workforce and resources to deliver content via a combined books and digital medium solution,” he noted. This rationalization is expected to enhance business prospects for both books and digital solutions efficiently.
Investing for the Long-Term
As part of their long-term strategy, Navneet Education Limited plans to continue investing judiciously in this segment, adapting to its ever-evolving demands. Gala expressed confidence that their concerted efforts will further the growth and success of the company in serving the educational ecosystem’s needs.
In summary, Navneet Education Limited is setting the stage for a revolution in ‘phygital’ education, through a strategic amalgamation and demerger aimed at maximizing synergies and optimizing resources in the booming Edtech and publication sectors.