Byju’s Aakash IPO: Byju’s, a leading company in the education technology sector, is preparing to bring the initial public offering (IPO) of Aakash Education Services Limited by the middle of next year. The company gave this information on Monday. Aakash Education provides preparation for competitive exams.
Byju said that the income of Aakash Education Services Limited (AESL) is expected to reach Rs 4,000 crore in the financial year 2023-24. During this, the operating profit can be Rs 900 crore. The company said, Byju will present the IPO of its subsidiary Aakash Education Services Limited (AESL) in the middle of next year.
Baju’s board has given its official approval for the IPO. Byju’s had acquired AESL in April 2021 for approximately US $ 950 million or approximately Rs 7,100 crore. After the acquisition, Aakash’s income has tripled in the last two years.