Key Deal Highlights
- First such funding by NaBFID in K-12 Segment
- Transaction involves brownfield expansion in 12 operating VIBGYOR Group of schools
- Long term funding of 15 yrs + backed by stable operating cashflows
- Will enhance education infrastructure for an additional 18000 students
- Will help VIBGYOR Group of schools to further expand its network of schools & aid in reaching a milestone of 75000 + active students and 50 schools by FY 27
[Mumbai, Maharashtra]- November 23, 2024 – VIBGYOR Group of Schools has received INR 465 Cr in long-term financing for its operating entities from The National Bank for Financing Infrastructure and Development (NaBFID), as a landmark funding initiative. This significant investment marks NaBFID’s inaugural transaction within the K-12 Segment, underscoring the bank’s commitment to enhancing social infrastructure across India.
VIBGYOR Group of Schools, a prominent name in the Indian education landscape, with 40 schools across 15 cities in 7 states, aims to utilize this funding to expand its presence and improve educational access across the country. The financial support will facilitate the enhancement of existing facilities, ultimately benefiting thousands of students and their families.
The funding from NaBFID aligns with the Indian government’s broader vision of strengthening the educational framework, ensuring that high-quality education is accessible to all. With this partnership, NaBFID and VIBGYOR Group of Schools are poised to make a significant impact on the future of education in India.
VIBGYOR Schools has consistently demonstrated a commitment to delivering holistic education, and this financial backing will further empower them to innovate and expand. The initiative is expected to create new job opportunities, enhance educational resources, and elevate the standard of schooling available in various regions.
“We are thrilled to receive this support from NaBFID,” said Rustom Kerawalla, Chairman at VIBGYOR Group of Schools. “This funding will enable us to accelerate our growth and continue providing quality education that nurtures the leaders of tomorrow. It also demonstrates our ability to raise long term capital backed by steady and sticky cashflows”
NaBFID remains dedicated to financing projects that have a transformative impact on society, with a focus on infrastructure development across multiple sectors, including education, healthcare, and renewable energy.
