A saviour at the gates? Reports say Manipal Group eyes BYJU’S takeover

India’s edtech troubles took a fresh turn this week as reports said the Ranjan Pai-led Manipal Education & Medical Group (MEMG) has submitted an Expression of Interest (EoI) to acquire Think & Learn Pvt Ltd, the parent company of BYJU’S, founded by Kerala man Byju Raveendran.

According to reports, MEMG has emerged as the only potential bidder for the company, which is currently under corporate insolvency proceedings. The EoI reportedly indicates the Manipal Group’s interest in taking over all possible assets of the firm.

Aakash Educational Services stake in focus

The main goal of the reported acquisition is BYJU’S 25% stake in Aakash Educational Services Limited (AESL). The report said the EoI was filed close to the extended submission deadline of November 13, set by resolution professional Shailendra Ajmera. The move comes amid a legal dispute over Aakash’s future. Recently, the Supreme Court allowed a rights issue that is expected to dilute Think & Learn’s holding in Aakash from 25% to nearly 5–6%.

Ranjan Pai’s growing role in Aakash

Ranjan Pai’s group already holds a 40% stake in Aakash, after investing about $300 million to help BYJU’S settle earlier debt. This gives the Manipal Group a strong position to gain control of the asset during the insolvency process, reports added.