BYJU’S sends notice to Aakash founders demanding share transfer

Education technology startup Think and Learn Pvt Ltd, which operates under BYJU’S brand name, has sent a notice to founders of Aakash Educational Services following their alleged resistance to complete a share swap that was unconditionally agreed as part of the sale of Aakash Educational Services Ltd (AESL), sources said.

In 2021, BYJU’S acquired 33-year-old brick-and-mortar coaching centre AESL for nearly $940 million in a cash and stock deal. Post deal, TLPL owned 43 per cent while its founder Byju Raveendran another 27 per cent. Founder Chaudhry’s family maintains about 18 per cent in AESL and Blackstone the remaining 12 per cent.