Riju Raveendran, the largest shareholder of edtech company Byju’s and brother of founder Byju Raveendran, approached the insolvency tribunal on Monday, seeking to be included in the insolvency case deliberations...
Arihant Academy acquires 51% stake in ZEAL Academy
Coaching institute Arihant Academy on Thursday said it has acquired a 51 per cent stake in Zen Educational and Learning (ZEAL Academy) at a valuation of Rs 17 crore. The acquisition will enable Arihant Academy to expand...
HDFC Bank approves 100% stake sale of subsidiary HDFC Education to Vama Sundari Investments for ₹192 crore
HDFC Bank has approved the complete 100 per cent stake sale of its subsidiary firm HDFC Education and Development Services to a private company for a total of ₹192 crore. The board of India’s top private lender on...
SP Jain Group acquires California Miramar University
The SP Jain Group has acquired California Miramar University (CMU), which will allow the group that runs business schools to offer artificial intelligence-related master’s and bachelor’s programmes to global students...
NCLT admits insolvency plea against Byju’s. Here’s what it means for the edtech platform
Byju’s, once India’s most celebrated startup, has been grappling with an escalating financial crisis, facing mounting legal battles with creditors amid a severe cash crunch. On 16 July, the National Company Law...
NCLT levies ₹20,000 cost on Byju’s for failing to reply to plea by Surfer Tech
The Bengaluru bench of the National Company Law Tribunal has levied a cost of ₹20,000 on edtech platform Byju’s for the delay in filing its reply to a petition by Surfer Technologies. As an operational creditor, Surfer...
NCLT refuses to stay Byju’s EGM to increase its authorised share capital
The National Company Law Tribunal on Thursday refused to stay Byju’s extraordinary general meeting (EGM) that will be held today to augment the authorised share capital of the beleaguered edtech company, giving...
NCLT issues notice to Byju’s in insolvency case filed by a BPO service provider
The National Company Law Tribunal, Bengaluru, Wednesday, issued notice to edtech behemoth Byju’s in an insolvency proceeding filed by customer support company Teleperformance Business Services India Ltd. Teleperformance...
Byju’s saviour? Board approves Ranjan Pai’s 40% majority stake buy in Aakash Institute, says report
Byju’s-owned Aakash Institute is set to witness Ranjan Pai, Chairman of the Manipal Education and Medical Group (MEMG), emerge as its largest shareholder with a 40 percent stake buy, as per an Economic Times report...
Exams trainer Allen acquires edtech platform Doubtnut to improve technology
Exams trainer Allen Career Institute has acquired Doubtnut, an education technology platform that uses artificial intelligence, for an undisclosed amount. Sources said the deal is worth around $10 million. Allen said...
Byju’s to sell Epic, Great Learning to repay $1.2 bn loan
Byju’s has put up kids’ reading platform Epic and higher education platform Great Learning for sale, three people aware of the development said, as the edtech giant tries to raise money and pay off a $1.2 billion loan...
Narayana set to buy out Morgan Stanley, BanyanTree from group firm for ₹1,400 crore
Hyderabad-based education-focused group Narayana, which runs hundreds of schools, colleges and coaching classes across the country, is looking to buy out private equity investors Morgan Stanley Private Equity Asia and...
