AEZ Group, a leading real estate developer in India working across several locations in north India, has acquired 50% stake in kids pre-school chain Mother's Pride.

The real estate firm has spend Rs 500 crore for acquisition of 50 per cent stake in Mother's Pride, which has a revenue of Rs 100 crore from its 26 schools in the National Capital Region.

AEZ Group said the stake has been bought on a deferred payment plan spread over six years and about 30% of the all-cash deal has already been paid. The realty firm has raised Rs 150 crore through internal accruals to fund the acquisition.

Mother's Pride is a name synonymous with pre school education and reckoned among nation's most premium schools. It's a dream come true for parents looking for a place as safe and loving as a home for their little ones. The company claims that it is truly 'a home away from home' and much more than that.

Further, AEZ Group said in a release that, it will pump another Rs 500 crore over the next five years for the expansion of the joint venture. The company plans to add 100 branches of the school chain across India over the next 3-5 years.