Chennai based eLearning company EdServ has informed the Bombay Stock Exchange (BSE) that the company is looking to raise up to USD 35 million through a GDR issue to fund its expansion plans. The price of the GDR issue will be fixed as per SEBI norms and the entire fund raising process is expected to be completed within the next fortnight.

The company plans to promote its flagship education portal flagship education portal LampsGlow.com and has plans to expand its eLearning presence, to overseas markets, that includes Schools (K-12), CA, International Test Preps, IT Skill and Personality skill training. The company also aims to make its  ‘HumThum’ mobile learning apps a key growth driver in its revenue.

S Giridharan, Chairman and CEO, EdServ said, “The current expansion entails investment in pan India growth to promote our flagship product LampsGlow.com as well as the recently launched Mobile learning services. The funds will be utilised for infrastructure expansion, investment into an additional 160 Schools, increasing access to mobile and TV offerings, enhancement of IT systems and brand promotion and development.”

“Our flagship online learning portal, LampsGlow will continue to be the big growth driver this year. The availability of our entire education content on two of the world’s renowned smart phone brands, Blackberry and Samsung, within the first month of the launch of our mobile learning services, is a testimony to the strong R&D we have undertaken in the last two years to create the ‘HumThum’ mobile apps. Going forward, our educational content delivered through Mobile Smart Phones worldwide will be a key growth driver for EdServ. We are also focused to take worldwide our K-12 learning solutions along with the International TestPrep and online certifications,” S Giridharan added.

The company had tied up with Blackberry, one of the world’s largest smart phone brands, to provide its educational content through its HumThum apps on Blackberry’s smart phones. This is in addition to the earlier tie up with Samsung. EdServ has also recently signed up with CAClubIndia, to capture online a large share of the CA student base, and with IL&FS Education to aggressively step into K-12 Schools students.