IEC EDUCATION LTD. Share price

India Education Centre was an Association of Persons run and managed by Gupta Enterprises, a registered private family trust established on 16th October, 1981 with Mr R.L Gupta and family. India Education Centre took upon the corporate character on 23 August, 1994 after being incorporated as India Education Centre Limited which took over 'India Education Centre' owned by Gupta Enterprises and had taken upon the task of establishing, maintaining, supervising educational, technical and vocational institutions for training of manpower including computer education institutes, and other institutions which will help in promoting employment opportunities and make available trained manpower to Government trade and industry. Since then, a frontrunner in imparting IT education. Later on January 19, 1998, India Education Centre Limited, changed its name to IEC Softwares Limited & became 'IEC Education Limited' to realize its two fold ambitious objectives, one of Software Development projects, IT services, promotion of export of Computer Software and other, Dissemination , promotion of knowledge in the field of Computer Education. The Company is inter-alia engaged in providing education services to Colleges and Universities, Implementation of Skill Development Schemes of various Governments, Franchise Centers etc. IEC is one of the premium Computer Training Institutes in the country which has grown immensely from a humble beginning to an established brand in providing quality education. Gupta Enterprises had been engaged in imparting technical and Vocational education including computer education and other allied activities in the field of computers since 1981 in the name of India Education Centre. VEF itself came into existence in 1989, with the aim of providing relevant and reliable education in different parts of India, a nation in need of initiatives for educating its large population. In 1999 the Company through its Vocational Educational Foundation (VEF) marked its entry in the formal sector of Education by setting up, IEC College of Engineering and Technology, Greater Noida, which since 1999 made a phenomenal progress and has expanded its field to pharmacy, Hotel Management, PGDM. In 2002, the Company acquired the running concern viz M/s IEC School of Art and Fashion, which holds majority of shares in M/s IEC Leasing and Capital Management Ltd., New Delhi and resulting to this, M/s IEC Leasing and Capital Management Ltd. became the subsidiary of the Company. The Company acquired M/s IEC School of Art and Fashion along with all its assets and liabilities. Further, it implemented IT training at over 125 colleges and 500 schools. In the 2nd phase, the Government of Madhya Pradesh allotted another 165 Colleges. In 2004, M/s IEC Infotech Sdn Bhd, Malaysia, has ceased to be a subsidiary of the Company in 2002. The Company completed computer education and training project in the Govt schools of NCT, CEP-I and II and Gyanoday project in Madhya Pradesh during the year 2006. Until 2008, the Company was mainly involved in ICT projects with various state governments, out of which Project with State of Rajasthan is still continuing, and providing ITTraining through 30 franchisees across North India. The Company decided to explore opportunities lying in core Education Sector and therefore, during the year 2008-09, the Company changed its main objectives and incorporated new objects related to imparting education in territory of India as well as outside the territory of India. To bring relevance in education sector, the Company also changed its name from IEC Softwares Limited to IEC Education Limited in 2009. During the year 2009, the Company acquired and amalgamated VEF Information Systems Private Limited, a profit making company engaged in providing various educational, training and support services to certain private educational institutes in North India. Further, there was an increase in number of students in schools where the Company implemented ICT projects. IEC has enjoyed its global presence with 7 branches and over 275 franchisee centers in India and in countries like Nepal, Maldives, Singapore and Oman; it provided a wide spectrum of unique Information Technology solutions and services to a clientele of premier organisations in the government. Presently under an agreement with Rajasthan Government, IEC is providing Computer Education to 56 colleges under Rajasthan University and Mohanlal Sukhodia University of Rajasthan along with 844 schools in the states. Close to two lacks students in Rajasthan Colleges and Schools are getting computer education & training under this programmed.