BYJU’S Settles Rights Issue Dispute With Aakash

BYJU’S has reportedly resolved a dispute with Aakash Educational Services Limited (AESL) concerning AESL’s rights issue. According to LiveLaw Biz, BYJU’S senior advocates Abhinav Vasisht and C K Nandakumar informed the NCLT’s Bengaluru about the settlement today. This dispute arose from Aakash’s rights issue proposal, which BYJU’S contested, alleging oppression and mismanagement.

Aakash had sought to dilute BYJU’S stake in the company from 26% to less than 5% through a ₹500 Cr rights issue, prompting the legal challenge. The matter gained prominence following the approval of a settlement proposal for AESL’s shareholding by BYJU’S creditors. Recently, BYJU’S founder Byju Raveendran proposed relinquishing his shareholding in Aakash to appease Qatar Holding’s $235 Mn arbitration claim against him.

This settlement means Aakash is now at the heart of multiple disputes involving ownership, creditor claims, and BYJU’S future prospects, which were valued at $22 Bn. Creditors are also negotiating a comprehensive settlement involving Aakash, as it remains the most valuable asset of the edtech giant. Global lenders, including GLAS Trust, which provided BYJU’S a $1.2 Bn term loan B, are reportedly in advanced talks to acquire a 30% stake in Aakash, valuing the company at around $2 Bn.

BYJU’S bought Aakash in April 2021 for approximately $1 Bn in a cash-and-stock deal to expand its offline test preparation services. Since then, the company has faced financial and legal challenges, with its net loss narrowing by 15.5% to ₹186.5 Cr in FY26, while operating revenue rose marginally by 0.4% to ₹2,040.5 Cr.