Ranjan Pai’s stake buy in Byju’s Aakash Educational Services gets CCI green signal

The Competition Commission of India (CCI) on Tuesday approved the acquisition of a significant stake in test prep platform Aakash Educational Services Limited by Manipal Health Systems Pvt Ltd and MEMG Family Office LLP by converting debt into equity.

The board of Byju’s-owned Aakash Institute earlier approved the conversion into equity of the $300 million Ranjan Pai, chairman of Manipal Education and Medical Group, invested in January 2024.