Stake sale · Education & Skilling

Lenders to acquire 30% stake in Aakash from BYJU'S

By Startup Enthusiast · 26 June 2026

What they do

BYJU'S is an online education company that also owns test-prep chain Aakash

Lenders are in advanced talks to take a 30% stake in Aakash at a $2 billion valuation to settle a legal dispute

The deal would end a multi-country legal battle over a $1 billion loan and allegations of fund misappropriation

Lenders are in advanced talks to acquire a 30% stake in Aakash Educational Services at a $2 billion valuation.
The equity transfer is part of a settlement to resolve a legal dispute between BYJU'S and its TLB lenders.
The conflict spanned courts in India, Singapore, and the United States.
Both parties testified to the Bengaluru NCLT that a settlement agreement is being worked on.
The court deferred the case to July 16 for further hearing.
The dispute began in early 2023 when GLAS Trust, trustee for TLB lenders, accused founder Byju Raveendran of fund misappropriation.
Lenders are seeking recovery of over $1 billion loan extended to BYJU'S in 2021.

BYJU'S entered insolvency proceedings in 2024 due to unpaid dues to BCCI.
The primary allegation was misappropriation of $533 million via US-based subsidiary BYJU'S Alpha.
Raveendran and BYJU'S consistently denied any wrongdoing.
Aakash became the crown jewel of BYJU'S business after its acquisition for $1 billion in 2021.
The pandemic-era boom in online education faded, and rapid expansion led to financial pressure.

BYJU'S is an online education platform offering learning apps and test-prep services.
It acquired Aakash Educational Services, a test-prep chain, in 2021 for approximately $1 billion.
Aakash became the crown jewel of BYJU'S business.
BYJU'S now holds a minority stake in Aakash.
MEMG (Manipal Education and Medical Group) has gradually increased its holding in Aakash and is now the top stakeholder with about 60% stake.