BYJU’S Parent To Hold 32% Stake In Aakash After Settlement: Report

What happened

Think & Learn Pvt Ltd (TLPL), the insolvent parent of BYJU’s, is set to hold around 32% in Aakash Educational Services once a settlement resolving its long-running shareholding dispute with the coaching company is fully implemented. According to an ET report, the stake will be higher than the roughly 25.75% TLPL held before Aakash’s ₹240 Cr rights issue became the subject of litigation last year.

TLPL’s recorded shareholding fell sharply after Aakash withheld a portion of the shares it had subscribed for. The settlement will include allotment of rights issue shares as well as transfer of existing shares to TLPL, the report said, adding that there would be no cash consideration for the deal between TLPL, Aakash, and the coaching institute’s investor Manipal Group.

Aakash and Manipal Group declined to comment on Inc42’s queries regarding the development. TLPL’s RP disputed the claim, arguing that TLPL had procured the hardware and owned the educational content stored on the devices.