MT Educare Limited (BSE:534312) is planning an Initial Public Offering (IPO) for Robomate Edutech Private Limited on the stock exchanges. MT Educare has initiated discussions with merchant bankers and valuers to initiate the listing process, said bankers. The valuation exercise undertaken by one of the Big Four audit firms has put the valuation of Robomate at around INR 7 billion, according to bankers. “Management is drawing out a strategy for listing Robomate so as to get its true valuation by the market. The process of hiving it off from MT Educare, start the branding exercise and revamping its structure has already begun and appointment of merchant bankers may be finalised in the next few weeks,” said one of the banker. An email sent to MT Educare seeking comments did not elicit any response.