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.
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.
Aakash Education Services Limited (AESL) revenue is on track to reach Rs 4,000 crore with an EBITDA (operational profit) of Rs 900 crore in the fiscal year 2023-24, the company said in a statement. Byju s. will launch the Initial Public Offering (IPO) of its subsidiary, Aakash Education Services Limited (AESL) mid next year, Byju s said in a statement.
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