Shriram Group of Companies, the major partner in the joint venture company New Horizons India Ltd, may sell up to 20 per cent of its 80 per cent stake to institutional investors in the next six months.
"We are already in talks with some institutional investors who have approached us. At present both sides are examining and Shrirams who hold 80 per cent stake in the company may dilute their stake in the range of 15-20 per cent," Ajay Sharma, president, New Horizons India Ltd said in New Delhi.
"Even if they are institutional investors...it is a sort of investment which is like a venture capitalist because we are at an infancy stage," he said, adding the money raised would not go the Shrirams but to the company.
"If all goes well, it may happen in six months' time," Sharma said.
New Horizons Worldwide holds 20 per cent in the joint venture.
Eyeing a marketshare of 15 per cent in the IT education segment in the next three years, he said the company has earmarked an investment of Rs 200 crore (Rs 2 billion) for the next three years and would be setting up 250 centres across the country.
Out of the 250, 40 centres would be company owned and managed while the remaining would be operated through the franchises.