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BYJU`S announces upcoming IPO of Aakash Education Services Limited National: BYJU'S, world’s leading edtech company, announces that it will launch the Initial Public Offering (IPO) of its subsidiary, Aakash Education Services Limited (AESL) mid next year. The IPO will mark a milestone in the continued growth and expansion of Aakash + BYJU'S, creating a comprehensive portfolio of products that caters to a broader range of students. The Board of BYJU’S has granted its official sanction for this pivotal undertaking. The appointment of the...
BYJU`S announces upcoming IPO of Aakash Education Services Limited
BYJU`S announces upcoming IPO of Aakash Education Services Limited
Source: PR Agency
5/06/2023 7:55:08 PM
India`s Byju`s to list unit Aakash Education by mid-2024 Indian education startup Byju's on Monday said it will take its educational institute Aakash Education Services public through an initial public offering (IPO) by mid-2024. Aakash, which was acquired for $950 million by Byju's in 2021, had first filed its draft prospectus in July 2018, before scrapping its listing plans. The announcement comes amid a gloomy market for domestic listings. After peaking in 2021, the IPO market has fizzled out due to concerns of companies' valua...
India`s Byju`s to list unit Aakash Education by mid-2024
India`s Byju`s to list unit Aakash Education by mid-2024
Source: Reuters
5/06/2023 3:40:31 PM
Why Prosus` $578 mn fair value doesn`t put BYJU`S valuation at $6 bn Global investment group Prosus has put the fair value of its 9.67 per cent stake in BYJU'S at $578 million, which technically puts the current valuation of the edtech major at nearly $6 billion -- last valued at $22 billion -- but this is not the case as Prosus has changed its accounting treatment for BYJU'S. In its September quarter results, Prosus classified BYJU's as a non-controlling financial investment rather than an associate, as its shareholding dropped below 10 per cen...
Why Prosus` $578 mn fair value doesn`t put BYJU`S valuation at $6 bn
Why Prosus` $578 mn fair value doesn`t put BYJU`S valuation at $6 bn
Source: IANS
24/11/2022 9:41:23 AM
BYJU`s clears Rs 2,000 cr dues to VC firm Blackstone in $1 bn Aakash deal Edtech major BYJU's has finally paid the remaining dues of nearly Rs 1,983 crore (over $245 million) to global VC firm Blackstone in the $1 billion acquisition of Aakash Educational Services. People close to the development told IANS that BYJU's paid the remaining dues to Blackstone within the extended deadline that ended on September 23. According to BYJU's financial report FY21, "as per the terms of the agreement for acquisition of Aakash Educational Services, conside...
BYJU`s clears Rs 2,000 cr dues to VC firm Blackstone in $1 bn Aakash deal
BYJU`s clears Rs 2,000 cr dues to VC firm Blackstone in $1 bn Aakash deal
Source: IANS
24/09/2022 12:09:21 PM
BYJU'S clocks Rs 10,000 cr sales in FY22, Raveendran to double down on growth Edtech major BYJU'S on Wednesday finally revealed its financial results for both FY22 and FY21, clocking gross revenues of nearly Rs 10,000 crore in FY22 and Rs 2,428 crore for FY21. IANS was first to report on BYJU's FY22 revenues, at Rs 9,991 crore for its FY22 financial results. The company said that there was significant business growth in FY21 over FY20, but since "this is the first year where new revenue recognition started because of a Covid-related business model ch...
BYJU'S clocks Rs 10,000 cr sales in FY22, Raveendran to double down on growth
BYJU'S clocks Rs 10,000 cr sales in FY22, Raveendran to double down on growth
Source: IANS
14/09/2022 10:46:10 AM
MD of BYJU`s-owned Aakash Institute buys Delhi property worth Rs 137 cr Aakash Chaudhry, co-founder and managing director of BYJU's-owned Aakash Educational Services, has bought a property worth Rs 137 crore at Kautilya Marg, Diplomatic Enclave, in the posh Chanakyapuri area in the national capital, multiple reports said on Thursday. According to data from online property registration provider Zapkey, the 1,300 square metre property was registered on August 1 and Chaudhry reportedly paid stamp duty worth Rs 8.22 crore. According to multiple media report...
MD of BYJU`s-owned Aakash Institute buys Delhi property worth Rs 137 cr
MD of BYJU`s-owned Aakash Institute buys Delhi property worth Rs 137 cr
Source: IANS
12/08/2022 10:05:09 AM
BYJU's says Aakash acquisition process on track, to be completed by August Edtech giant BYJU's on Wednesday said that the $1 billion acquisition process of Aakash Educational Services is on track and is expected to be completed by August. BYJU's acquired Delhi-based offline test preparatory services provider Aakash for $1 billion last year. The company was reacting to reports that Blackstone and other shareholders of Aakash are yet to be paid in both cash and stock as it has deferred the payment. A company spokesperson told IANS that the acquisition...
BYJU's says Aakash acquisition process on track, to be completed by August
BYJU's says Aakash acquisition process on track, to be completed by August
Source: IANS
29/06/2022 2:14:27 PM
Byju's to acquire Aakash Educational Services in nearly $1B deal BYJU'S will acquire Aakash Educational Services Limited (AESL) through a strategic merger. The deal size is pegged at close to $1 billion, according to a person familiar with the transaction. This partnership brings together two of the largest and most-trusted education brands in India - combining Aakash's pedagogy expertise in the test-prep segment with BYJU'S content and tech capabilities. After the integration, BYJU'S will make further investments to accelerate Aakash...
Byju's to acquire Aakash Educational Services in nearly $1B deal
Byju's to acquire Aakash Educational Services in nearly $1B deal
Source: IANS
5/04/2021 2:58:41 PM