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.
The firm expects to meet the Monday deadline, people familiar with the matter told Bloomberg. Moreover, the sources also revealed that failure to pay the instalment would mean a loan default
BYJU'S acquired Aakash Education for around $950 million (Rs 7,100 crore) in April 2021. Since the acquisition, Aakash has clocked a three-fold jump in revenue in the last two years.