BYJU's Parent to Hold 32% Stake in Aakash After Settlement

Think & Learn Pvt Ltd (TLPL), the insolvent parent company of edtech firm BYJU's, is expected to hold around 32% of Aakash Educational Services following a settlement that resolves a prolonged dispute over shareholding. This stake is an increase from the approximately 25.75% TLPL held before litigation began last year concerning Aakash's rights issue.

The settlement includes the allotment of rights issue shares and the transfer of existing shares to TLPL, with no cash consideration involved between TLPL, Aakash, and investor Manipal Group. Both Aakash and Manipal Group declined to comment on the development.

This agreement comes after the National Company Law Tribunal (NCLT) directed that the status quo be maintained on assets auctioned by TLPL amid a dispute over ownership. The tribunal's order followed claims by another BYJU's entity, BYJU's K3 Education, that assets worth approximately ₹150 crore were auctioned for about ₹16 crore.

TLPL entered insolvency proceedings in July 2024 due to unpaid sponsorship dues. Separately, BYJU Raveendran has reportedly proposed relinquishing his claimed beneficial interest in 17.89 million Aakash shares to settle a $235 million arbitration claim against him by Qatar Holding.