Ranjan Pai to buy out Davidson, Blackstone with Aakash bid: Report

Manipal Group Chairman Ranjan Pai will buy out two investors of BYJU'S-owned offline tutoring firm Aakash Educational Services, Davidson Kempner and Blackstone, The Arc reported. Pai is expected to invest $300 million in Aakash and parties are still negotiating valuation at which the share sale will take place. BYJU'S-parent Think & Learn's Aakash stake will rise from 43% to 51%.