Akshata Sharma
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The Competition Commission of India (CCI) has approved the acquisition of a significant stake in the test preparation firm Aakash Educational Services Limited (AESL) by Manipal Health Systems Pvt Ltd and MEMG Family Office LLP by converting debt into equity.
The board of Byju's-owned Aakash Institute earlier approved the conversion into equity of the $300 million Ranjan Pai, chairman of Manipal Education and Medical Group, invested in January 2024.
Byju's parent, Think and Learn, had acquired AESL for $950 million in 2021.
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