Bennett, Coleman & Company Limited has invested Rs 5 crore at Rs 1,714 a share for a 15% stake in UP-based IT company UPTEC. UPTEC was established in 1993. Since then it gave dividends regularly till 2003, after which it skipped paying for three years, ploughing back the profits in the company. It resumed paying dividends this year. Its turnover is likely to cross Rs. 30 crores this year with revenue coming from IT training, hardware & networking solutions, content development, and software services. Its current student strength is about 10,000 and 50,000 students have passed out of its ten centres in Lucknow, Kanpur, Allahabad, Varanasi and Noida. The latest offering from UPTEC is e-learning and e-testing. The company is testing its interactive e-learning software developed in-house, and it will be launched this summer in at least three subjects. All the company’s courses have won the ISO 901-2000 certificate for all education centres and allied services, including management education.
Read the article in Business Standard.
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