🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

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

Economic Times

Economic Times · 11m ago

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

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.

Related News

CCI Gives Nod To Ranjan Pai’s Manipal Group To Acquire Stake In Aakash Educational Services

Inc42 · 11m ago

CCI Gives Nod To Ranjan Pai’s Manipal Group To Acquire Stake In Aakash Educational Services

The Competition Commission of India has approved Manipal Health Systems and MEMG Family Office's plan to acquire a stake in Aakash Educational Services. Aakash's board has also agreed to convert a $300 million investment by Pai in 2023 into equity. This move will make Pai the largest shareholder in Aakash with a 40% stake.

Manipal Group's Pai offers ₹300 cr loan facility to BYJU'S: Report

Business Today

Business Today · 1y ago

Manipal Group's Pai offers ₹300 cr loan facility to BYJU'S: Report

Ranjan Pai, the founder of Manipal Hospitals Group, has offered a Rs 300 crore loan facility to Think & Learn Pvt. Ltd, the parent company of Byju's. This financial arrangement is part of a larger transaction that aims to facilitate a partial exit for the Chaudhry family from Aakash Educational Services Ltd. The investment is expected to help plug Byju's working capital and cash flow requirements and may reach a total investment of $300 million by Pai. Additionally, the transaction could involve the swapping of a portion of the Chaudhry family's Aakash shares into Think & Learn, potentially increasing the company's stake in Aakash to over 51 percent.

BYJU’S, Aakash Shareholders flag valuation concern over Ranjan Pai’s $300 Mn conversion move

Inc42 · 1y ago

BYJU’S, Aakash Shareholders flag valuation concern over Ranjan Pai’s $300 Mn conversion move

BYJU'S shareholders, including investors Blackstone and Prosus NV, have raised concerns over the approval to convert a $300 million investment made by Ranjan Pai of Manipal Education and Medical Group (MEMG) into equity. They argue that the conversion will dilute the value of their stakes in the company. The approval was given by the board of Aakash Institute, a subsidiary of BYJU'S. The shareholders claim that the conversion was based on a lower valuation for Aakash compared to the price paid by BYJU'S for its acquisition.

BYJU'S settles dispute with Davidson over ₹1,400-cr debt

Money Control

Money Control · 1y ago

BYJU'S settles dispute with Davidson over ₹1,400-cr debt

Ranjan Pai, chairman of Manipal Education and Medical Group, has purchased the debt investment of Davidson Kempner in a deal worth Rs 1,400 crore. This move brings relief to edtech company Byju's, as it resolves a longstanding dispute with the investment management firm. Pai also gains a board seat and the right to nominate two people on the board of Aakash, Byju's subsidiary. Additionally, he plans to buy out part of Aakash's promoter stake and Blackstone's remaining stake, taking his effective shareholding in Aakash to nearly 30%.

Ranjan Pai in talks to invest $80-90 million in Byju’s-owned Aakash

Money Control

Money Control · 1y ago

Ranjan Pai in talks to invest $80-90 million in Byju’s-owned Aakash

Ranjan Pai, a prominent investor is in discussions to invest $80-90 million in Aakash Educational Services Limited, which is owned by BYJU'S, as per Moneycontrol. The investment would further strengthen BYJU'S position in the edtech sector and support Aakash's expansion plans. The deal signifies growing interest in the Indian edtech market among investors.The company is further seeking another $200 million (Rs 1,600 crore) in Aakash as a part of the funding round where sovereign wealth funds are expected to come on board.

Manipal Group’s Ranjan Pai in talks to invest up to Rs 2,500 cr in Byju’s; Davidson Kempner to exit with Rs 1,400 cr

Business Today

Business Today · 1y ago

Manipal Group’s Ranjan Pai in talks to invest up to Rs 2,500 cr in Byju’s; Davidson Kempner to exit with Rs 1,400 cr

Edtech giant Byju's is reportedly close to resolving its dispute with New York-based investment manager Davidson Kempner Capital Management over a loan linked to its profitable entity, Aakash Educational Services. Chairman of Manipal Education and Medical Group, Ranjan Pai, is said to be finalizing a deal to invest up to $300 million in Byju's, with a majority going to Aakash. Pai will also pay Rs 1,400 crore to fully settle the loan. Byju's is also planning to sell its group firms, Great Learning and Epic, to raise funds.

Chaudhry unlikely to return to steer Byju's-owned Aakash Institute: Sources

Economic Times

Economic Times · 1y ago

Chaudhry unlikely to return to steer Byju's-owned Aakash Institute: Sources

Byju's-owned Aakash Institute has abandoned plans for promoter Aakash Chaudhry to return as the chief executive of the coaching business unit. Manipal group chief Ranjan Pai, who owns a 40% stake in the institute, is now poised to lead the company. Pai has become the largest investor in Aakash, while Chaudhry still holds an 11% stake. A new CEO will be appointed by the board. This development follows unsuccessful negotiations between Byju's and the Aakash promoters, and legal battles faced by Byju's.

Saving edtech company Byju’s: Inside the great rescue act

Livemint

Livemint · 1y ago

Saving edtech company Byju’s: Inside the great rescue act

Byju's, India's leading edtech startup, has faced a series of setbacks, including resignations of key executives and board members, struggles with audited financial statements, governance lapses, litigation from lenders, and a decline in its valuation. However, the company has found hope in the form of an advisory council led by Rajnish Kumar and including Mohandas Pai and Ranjan Pai. The council is working to address compliance issues and is guiding the restructuring of the company. Ranjan Pai has been instrumental in helping Byju's gain control over a key acquisition, Aakash Educational Services.

Byju's sends legal notice to Aakash founders demanding share transfer

Economic Times

Economic Times · 1y ago

Byju's sends legal notice to Aakash founders demanding share transfer

Education technology startup Think and Learn Pvt Ltd, which operates under Byju's brand name, has sent a legal notice to founders of Aakash Educational Services following their alleged resistance to complete a share swap that was unconditionally agreed as part of the sale of Aakash Educational Services Ltd (AESL), sources said.

Byju’s taps private equity funds to prepare for Aakash sale

Economic Times

Economic Times · 1y ago

Byju’s taps private equity funds to prepare for Aakash sale

Byju's founder, Byju Raveendran, has initiated talks with private equity firms Bain Capital and KKR to explore the sale of a majority stake in Aakash Educational Services Ltd (AESL), which is considered a valuable asset for the edtech company. This move comes as Byju's prepares for potential consolidation. The talks are still at an exploratory stage.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Meta acquires voice startup Play ...

Zomato CEO Deepinder Goyal buys l ...

Exclusive: Porter turns profitabl ...

Download the medial app to read full posts, comements and news.