The stock-and-cash deal is the biggest in the education space.
'Hybrid learning is the future, and test prep is a big segment within the entire education space in India.'
'What I hope to do is provide a vehicle for that scale and growth in literacy and English as a second language here.'
Manipal Group chairman Ranjan Pai is in early discussions to invest in Byju's-owned Aakash Educational Services Limited (AESL). According to sources in the know, Byju's founder and chief executive officer Byju Raveendran, who owns a 30 per cent stake in Aakash, is expected to partially offload his holding to Pai for $80-90 million (about Rs 650-740 crore). Raveendran may use the money to repay a large part of the Rs 800 crore loan that Byju's raised from US-based investment firm Davidson Kempner Capital Management in May, after facing a 'technical default', the sources said.
Cash-strapped edtech firm Byju's' parent company said on Monday it will raise $200 million by way of a rights issue to all its equity shareholders, aiming to support growth and achieve operational sustainability. The proposed rights issuance by Think and Learn Private Limited (TLPL) will fund capital expenditure and support general corporate purposes. As the largest shareholders, the founders of Byju's have personally invested more than $1.1 billion in the company in the last 18 months.
Serum Institute of India (SII) and Bharat Biotech have also stopped producing the Covishield and Covaxin vaccines respectively.
Staying active and warm are the only pragmatic solutions to alleviate joint pain, says Dr Aashish Chaudhry.
Our busy schedules, our living conditions where sunlight is often a luxury, pollution as also social mores that frown upon exposure are collectively responsible.
Most feel as the movement of people normalises, the in-patient volumes in hospitals will grow and by the end of May, occupancy should be around 50 per cent, and 75 per cent over a period of time.
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