MT Educare Ltd.IPO Issue Details

This Issue has been graded by CRISIL Limited as 4/5, indicating that the fundamentals of the Issue are above average relative to other listed equity securities in India. The IPO grade is assigned on a five-point scale from 1 to 5, with IPO grade 5/5 indicating strong fundamentals and IPO grade 1/5 indicating poor fundamentals.

OBJECT OF ISSUE

The Issue consists of the Fresh Issue by our Company and the Offer for Sale by the Selling Shareholder.

Offer for Sale

Our Company will not receive any proceeds from the Offer for Sale by the Selling Shareholder.

Fresh Issue

The proceeds of the Issue, after deducting the proceeds of the Offer for Sale and Issue related expenses (the _gNet Proceeds_h), are estimated to be approximately Rs. [*] lakhs.

The Net Proceeds are proposed to be utilised by our Company for the following objects:

(a) Part financing the cost of construction of a PUC campus in Karnataka, which includes the cost of acquisition of land;

(b) Establishing new Coaching Centres at 20 locations; and

(c) General corporate purposes.

The main objects clause and objects incidental and ancillary to the main objects set out in our Memorandum of Association enable us to undertake our existing activities and the activities for which the funds are being raised through this Fresh Issue. Further, we confirm that the activities undertaken by our Company until now have been in accordance with the objects clause of our Memorandum of Association.

Mahesh R. Shetty, aged 47 years, is the Chairman and Managing Director of our Company. He is also the Promoter of our Company. He holds a bachelor.s degree in science and education from the University of Mumbai. He has over 27 years of experience in the coaching sector. He started the business of providing coaching services to students in School Section in 1988 under the brand of .Mahesh Tutorials.. Prior to this, he was associated with Shetty.s Academy as a faculty member for a period of three years. He was awarded the .Pride of the Nation Award. by the All India Achievers Association in 2008.

Mahesh R. Shetty.s driving license number and voter identification card number are MHO3 20080096985 and NNX2660256, respectively. His passport number is Z1781469.