BYJU'S insolvency: MEMG may bid for whole or parts
Big moves in edtech: Manipal Education and Medical Group (MEMG), led by Ranjan Pai, has expressed interest in bidding for Think & Learn—the company behind BYJU'S—which is currently undergoing insolvency proceedings.
MEMG could go for the whole company or just pick up key parts like Aakash Educational Services (where their own stake is growing) and other brands like GeoGebra, WhiteHat Jr., and Toppr.
MEMG's stake in Aakash will drop to under 5%
A recent rights issue at Aakash, approved by shareholders and cleared by the Supreme Court, will shrink BYJU'S parent's stake from nearly 26% to under 5%.
This means MEMG now holds a strong majority in Aakash, giving them more control while helping Aakash get fresh funds to keep running.
Think & Learn is currently in the middle of an
Think & Learn landed in insolvency after a ₹158 crore dispute with India's cricket board.
MEMG is the only one officially bidding so far—so much so that the deadline for bids got pushed to November 13 to attract more interest.
For anyone following India's startup drama or curious about how big brands change hands, this is one to watch.