Prime Highlights
- Blackstone is in early talks to acquire a majority stake in Globetrotters Educational Innoventions, the operator of Jayshree Periwal International School (JPIS).
- The investment is expected to form the base of a larger $600–700 million education platform aimed at expanding JPIS beyond Rajasthan.
Key Facts
- Globetrotters reported ₹135.2 crore in operating revenue for FY25, marking a 16% rise from the previous year, while net profit increased to ₹22.5 crore.
- JPIS and its six preschools will continue to be run by founder Jayshree Periwal and CEO Ayush Periwal after the acquisition.
Background
US private equity giant Blackstone is exploring a majority investment in Jaipur-based Globetrotters Educational Innoventions, the operator of the well-known Jayshree Periwal International School (JPIS), according to people familiar with the discussions. The potential deal marks the firm’s latest major push into India’s fast-growing education sector.
Sources said the talks are currently at an early stage, with preliminary discussions indicating an investment of $150–200 million for the initial acquisition. Blackstone aims to use this transaction as the foundation for a larger education platform that could see a total deployment of $600–700 million over the coming years.
If the deal moves forward, Blackstone is expected to help widen JPIS’s footprint beyond Rajasthan. However, the schools would continue to be run by founder and chairperson Jayshree Periwal and CEO Ayush Periwal, ensuring the current academic approach and management remain unchanged.
Globetrotters currently operates JPIS along with six preschools in Jaipur. Founded in 2011 and previously known as Step by Step International School, JPIS follows the International Baccalaureate (IB) curriculum. The Periwal family also runs two more schools under the Step by Step Shiksha Samiti, but these are not expected to be included in the deal because private equity firms are not allowed to invest directly in educational societies.
Globetrotters is doing well financially. It earned ₹135.2 crore in operating revenue in FY25, which is 16% higher than last year. Net profit also increased to ₹22.5 crore, showing rising demand for good private schools.
Blackstone has previously made notable investments in India’s education space, including buying a major stake in Simplilearn and investing in Aakash Educational Services. The firm has used similar consolidation strategies in healthcare and automotive technology, and the JPIS transaction could mirror that playbook. Blackstone declined to comment on the ongoing discussions.
