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Ranjan Pai buys US fund's stake in Aakash for 1.4k cr
![IndiaTimes]()
Friday, 10 November 2023
Education and healthcare billionaire Ranjan Pai has purchased US private equity fund Davidson Kempner's stake in Aakash Institute, a subsidiary of Byju's. Pai has also acquired Davidson's debt instruments, worth Rs 1,400 crore, and is in talks to acquire minority shareholders including the Chaudhry family and Blackstone. This will increase Pai's stake in the test prep unit to 35%. Additionally, a US court ruling has allowed Byju's lenders to remove Riju Raveendran as the sole director and officer of its American subsidiary.
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Friday, 10 November 2023
