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Byju's Subsidiary Aakash Names Deepak Mehrotra as CEO, Eyes IPO Growth

Aakash Educational Services Limited (AESL), a subsidiary of Byju’s, has named Deepak Mehrotra as its new managing director and chief executive officer. Mehrotra, previously the Managing Director at Ashirvad Pipes, brings over 35 years of experience in various sectors such as FMCG, telecom, and education, having worked at companies like Pearson India, Bharti Airtel, Coca-Cola, and Asian Paints.

This appointment aligns with AESL’s strategic vision to enhance its offerings, extend its reach, and make a positive impact on the education sector. Byju’s founder and chairman, Byju Raveendran, expressed confidence in Mehrotra's ability to drive AESL's growth plan and leverage the company's current momentum, citing his successful tenure at Pearson India.

Aakash, known for its NEET, IIT-JEE, Olympiad NTSE, and engineering and medical aspirant courses, is gearing up for its IPO, possibly launching this year. Byju’s had announced Aakash's plan to go public by June 2024 and had raised $168 million from Ranjan Pai of Manipal Education and Medical Group to clear previous debt. Byju’s acquired Aakash for $940 million in April 2021, but the Chaudhry family, AESL's founders, declined to swap their remaining stake due to governance concerns. Despite this, both companies are currently operating independently under the Think and Learn brand.

Aakash's financial performance has been strong, with a 45% increase in operating revenue in FY22, reaching Rs 79.5 crore in profit. The company is expected to surpass Rs 2,000 crore in revenue by the end of FY23.


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