Akash owned byju preparing to bring IPO next year
[ad_1]
copy photo
google creative common
Byju’s said in a statement that the revenue of Aakash Education Services Ltd (AESL) is expected to reach Rs 4,000 crore in the financial year 2023-24. During this period, the operating profit can be Rs 900 crore.
New Delhi. Education technology major Byju’s is preparing to launch an initial public offering (IPO) of Aakash Education Services Limited by the middle of next year. The company gave this information on Monday. Aakash Education provides preparation for competitive exams. Byju’s said in a statement that the revenue of Aakash Education Services Ltd (AESL) is expected to reach Rs 4,000 crore in the financial year 2023-24. During this period, the operating profit can be Rs 900 crore.
Byju’s will launch an IPO of its subsidiary Aakash Education Services Limited (AESL) in the middle of next year, the company said in a statement. The board of Baju has given its official approval for the IPO. Byju’s had acquired AESL in April 2021 for approximately US$950 million or approximately Rs 7,100 crore. After the acquisition, Aakash’s earnings have tripled in the last two years.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
