While the Chaudhry family and Blackstone still hold nearly 30% in the test-prep chain, it’s unclear who has the final say on the 27% held indirectly by Byju Raveendran.
If Byju’s is in the news, can Aakash be far behind?
On 30 June, ET Now reported, citing unidentified sources, that Byju’s is in talks with investors to dilute up to 20% shareholding in Aakash Educational Services, the offline test-prep company it acquired in 2021 for nearly $950 million in cash and stock. Talks with prospective investors, the news report said, were at a very early stage.
The development was in contrast with Byju’s plan to take Aakash public. On 5 June, co-founder Divya Gokulnath had said in a LinkedIn post that Aakash was looking for an IPO in …
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