Byju's Seeks Investors to Sell Stake in Aakash Education

Edtech giant Byju's is looking for investors to sell a portion of its stake in Aakash Education Services (AESL), according to a report from the television news channel ET Now.

The report further added that the edtech giant holding company, Think & Learn, is planning to dilute up to 20% of its 70% equity stake in Aakash Education.

Byju's acquired Aakash Education for $950 million in 2021, but it now appears that the company is considering reducing its stake. The discussions with potential investors are said to be in the early stages, as mentioned in a tweet from ET Now.

This move to sell a stake in Aakash Education marks a departure from Byju's previous intentions of taking the educational institute public through an IPO by mid-2024. It seems that the company's current legal and financial challenges may have prompted this change in strategy.

Byju's has recently faced a series of setbacks, with three independent directors and its auditor, Deloitte, resigning just last week. These developments have added to the company's existing difficulties.

It remains to be seen how the sale of the stake in Aakash Education will proceed and what impact it will have on Byju's future plans. The company has not provided further details or made an official statement regarding this matter.

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