Transaction Closure: Open Offer for Everonn Education Limited

The Open Offer for the acquisition of 3,944,080 fully paid up equity shares of Everonn Education Limited ("Everonn") representing 20% of the Emerging Voting Share Capital closed on November 27, 2010. The total offer size at a price of Rs. 587.01/- per fully paid up equity share was Rs. 2,315.21 million.

Everonn, is currently engaged in the business of education and training offering satellite-enabled learning and providing a blend of traditional and digitized content to the schools, colleges and retail segments. It has 8,492 learning centres across 27 states.

Open offer was made by SKIL Infrastructure Limited ("Acquirer") along with SKIL Knowledge Cities Private Limited (as the Person Acting in Concert, "PAC" ). Acquirer is in the business of development of infrastructure projects in India. The PAC was established for the purpose of carrying on the business of imparting training in all fields of knowledge based education.

SKIL Infrastructure Limited has become the co-promoter of Everonn Education Limited.

Edelweiss Capital Limited acted as Manager for this Open Offer.