Byju’s to Bring Aakash Education Services Limited IPO in 2022

Byju’s, a leading education technology company, has announced plans to launch the initial public offering (IPO) of Aakash Education Services Limited (AESL) in the middle of next year. AESL is a subsidiary of Byju’s that offers preparation for competitive exams. Here are the key highlights of the news:

– Byju’s expects the income of AESL to reach Rs 4,000 crore in the financial year 2023-24, with an operating profit of Rs 900 crore.
– Byju’s board has approved the IPO of AESL, which was acquired by Byju’s in April 2021 for approximately US $950 million.
– AESL’s revenue has tripled in the last two years, making it a valuable asset for Byju’s.

Byju’s has been expanding its portfolio of educational offerings through strategic acquisitions and partnerships. The company aims to tap into India’s growing demand for quality education and online learning solutions.

However, the news of the IPO comes amidst a recent raid by the Enforcement Directorate (ED) at Byju’s founder and CEO Byju Raveendran’s premises. The ED seized digital data related to the investigation, which is currently ongoing.

Despite the legal hurdles, Byju’s is optimistic about the future growth of AESL and its potential to attract investors through the IPO. As the education sector continues to evolve and adapt to the changing needs of students, Byju’s is well-positioned to capitalize on the opportunities in this space.

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