Milestone Religare Investment Advisor Pvt. Ltd, a joint venture between Religare Enterprises and Milestone Group, is pleased to announce the completion of its first trance of Rs 250 million investments in IMS Learning Resources Pvt. Limited.

This investment has been made from the India-out-Fund-1, which is Rs 600 crore sectoral private equity fund that focuses on education and healthcare.

It should be noted that in April 2009, Religare had entered into a 50:50 joint venture with Milestone Capital to launch the India Built Out Fund.

The company, along with its affiliates, had committed to contribute Rs 60 crore to the fund which has an existing corpus of more than Rs 100 crore. The life of the fund will be
5 years, while 18 months will be the commitment period.

IMS is a leading Indian educational services player focused on test preparation, skill development and formal education. The company is the premier provider of test preparation services for aspiring students across management, engineering and law.

With over 140 centers across 90 cities in India, the company provides test preparatory services for various test including domestic entrance exams such as the CAT, MAT, and CET and international standardized tests such as the GMAT, GRE and SAT.