Ranjan Pai, chairman of Manipal Education and Medical Group, is set to emerge as the largest shareholder in Byjus-owned Aakash Institute, with a 40% stake, people aware of the matter said. The Aakash board has approved the conversion into equity of the $300 million Pai invested during 2023, they added.
The Aakash board has approved the conversion into equity of the $300 million Pai invested during 2023, they added. This values the company — one of the remaining valuable assets for Byju Raveendrans troubled edtech group — at around $700 million and renders it debt-free.
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