MT Educare, an institution that provides education and aims to mentor youth, announced that the company has concluded the sale and lease back of its Mangalore Pre-University (PU) Campus. The sale deed has been entered into, for a sale consideration of Rs 550 million, which shall be paid on or befor Mar. 31, 2015.

The sale and lease back deal entails continuation of MTEL's operating and management rights in the premises for a period of 30 year with an initial 15 years lock-in-period.

Shares of the company gained Rs 1.7, or 1.61%, to trade at Rs 107.30. The total volume of shares traded was 26,132 at the BSE (10.19 a.m., Monday).