BYJU’S board has officially approved the IPO, said the Bengaluru-based company. It would announce the appointment of merchant bankers for the IPO shortly.
Edtech major BYJU'S will launch the Initial Public Offering (IPO) of its test preparatory arm Aakash Education Services Limited by middle of next year, the company said on Monday.
Byju's, India's billion-dollar ed-tech start-up, is all set to hit the market with an Initial Public Offering (IPO) of its test preparation division Aakash, a Moneycontrol report said on Monday.
According to the report, Aakash is likely to go public by mid-2024 and Byju's, its parent company, has given the nod to start the IPO process.
The development comes on the same day as the deadline for India's most valuable start-up to pay a quarterly interest of nearly $40 million on a $1.2 billion loan.
The upcoming IPO will provide a significant capital infusion to bolster Aakash s infrastructure, broaden its reach, and extend high-quality test-prep education to a larger number of students across the nation, , BYJU s, Aakash Educational Services