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Ranjan Pai’s stake buy in Byju's Aakash Educational Services gets CCI green signal

Economic TimesEconomic Times · 1y ago
Ranjan Pai’s stake buy in Byju's Aakash Educational Services gets CCI green signal
Medial

The Competition Commission of India has approved the acquisition of a significant stake in Aakash Educational Services Limited by Manipal Health Systems and MEMG Family Office. The move involves converting debt into equity and follows the approval of the conversion by the board of Aakash Institute. The acquisition comes as Byju's-owned Aakash Institute deals with disputes with investors, with Manipal chairman Ranjan Pai focusing on protecting his investments. Aakash Institute provides coaching classes and materials for medical and engineering entrance exams, as well as other educational programs. It reported strong financial performance for the year ended March 2022.

Exclusive: PhysicsWallah–Drishti IAS acquisition deal called off

EntrackrEntrackr · 2m ago
Exclusive: PhysicsWallah–Drishti IAS acquisition deal called off
Medial

Exclusive: PhysicsWallah–Drishti IAS acquisition deal called off In April 2025, Entrackr exclusively reported that PhysicsWallah was evaluating acquisitions to strengthen its presence in the Union Public Service Commission (UPSC) test preparation segment. The highly anticipated acquisition of Drishti IAS by edtech unicorn PhysicsWallah has been called off, according to two sources. The deal was in advanced stages but did not materialize due to multiple reasons. The deal was estimated at Rs 2,500-Rs 3,000 crore. Drishti IAS, along with other institutes like Chaitanya Academy, Rau's IAS Study Circle, and Sarrthi IAS were among the assets being considered for potential acquisition. “Drishti IAS considered the proposal after being approached by PhysicsWallah, but given its strong revenue and profitability, the company has decided to continue operating independently and is not looking to raise external funding and acquisition," said one of the sources requesting anonymity. Drishti IAS, founded in 1999, has established itself as a leading player in civil services preparation, particularly for Hindi-medium students. The Delhi-based institute reported a revenue of Rs 405 crore and a profit after tax of Rs 90 crore in FY24. Sources added that Drishti is expected to close FY25 with a decent growth in revenue as well as profit. PhysicsWallah, known for its affordable online coaching, has been expanding its offerings beyond engineering and medical entrance exams into the competitive UPSC coaching space. The potential acquisition of Drishti IAS was seen as a strategic move to bolster its offline presence and diversify its portfolio ahead of its planned IPO. PhysicsWallah declined to comment on the story, while Drishti IAS did not respond to queries until the time of publication. Media reports suggest that PhysicsWallah filed draft papers via confidential route in March to raise Rs 4,600 crore through an initial public offering (IPO). If successful, it will become the first edtech unicorn to be listed on the stock exchange.

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