New Delhi, July 10 -- KKR-backed Lighthouse Learning is set to strike another deal to acquire a school after buying Early Learning Village (ELV) in March. Meanwhile, Mumbai-based Vibgyor Group of Schools is exploring a minority equity raise, and CarDekho parent Girnar Software is gearing up for a stock market listing, according to media reports.

Pathways School

KKR-backed Lighthouse Learning Group, formerly EuroKids International, is in talks to acquire Gurugram-based premium school chain Pathways School, according to a Times of India report, citing people familiar with the matter.

The report said Lighthouse Learning will acquire Pathways School for about Rs 1,500 crore ($157 million).

Pathways' Gurugram campus is spread across 10 acres with 4.5 lakh square feet of built-up space, caters to around 1,600 students, and charges an average annual fee of nearly Rs 10 lakh.

Pathways is estimated to generate EBITDA of about Rs 110 crore, valuing the transaction at around 13 times estimated value/EBITDA, the report said.

Vibgyor Group of Schools

Vibgyor Group of Schools, a school chain based in Mumbai, is seeking to raise capital for the first time through a minority stake sale, according to a Mint report.

The school chain is looking to sell up to 30% stake and has appointed Avendus Capital as the banker for the transaction, Mint said, citing people familiar with the matter. Talks are still at an early stage.

Vibgyor plans to use the funds for expansion and is seeking a valuation of 10-20 times its revenue.

Vibgyor Group wrapped up FY26 with a revenue of around Rs 1,800 crore. The promoters currently own the company entirely and intend to retain control after the stake sale, the report said.

Girnar Software

Girnar Software, the parent of auto classifieds platform CarDekho, is preparing to file draft papers for an initial public offering (IPO) in the July-September quarter, targeting an issue size of up to Rs 3,000 crore, according to multiple media reports.

The listing is expected to be largely an offer-for-sale (OFS) by existing investors, with a fresh issue of about Rs 300 crore. The Jaipur-based company is eyeing a valuation of Rs 13,000-15,000 crore, higher than the Rs 9,000 crore valuation it secured during its last equity fundraise around five years ago, the report said.

Published by HT Digital Content Services with permission from VC Circle.