Indian edtech major BYJU’s is reportedly in talks with private equity majors including Bain Capital and KKR for the sale of a controlling stake in its test preparation arm Aakash, The Economic Times reported, while Gopal Snacks has secured pre-IPO funding, according to The Mint.

BYJU’s in talks with PE firms to sell stake in test-prep unit Aakash

Indian edtech major BYJU’s is in talks with private equity majors including Bain Capital and KKR for the sale of a controlling stake in its test preparation arm, Aakash Education Services, reported The Economic Times.

Carlyle and some other PE firms are considering supporting Aakash’s promoter and former CEO Aakash Chaudhry in getting back the company, added the report.

BYJU’s had acquired Aakash Educational Service in April 2021 for $950 million, to expand its presence in the test prep segment in India. Since its acquisition, Aakash has reportedly clocked a three-fold increase in revenue in the last two years. The appointment of the merchant bankers for the IPO will be announced soon, the company said

The company is in line to launch its initial public offering in the middle of next year.

Aakash offers test preparation courses targeting the JEE (Joint Entrance Examination) for engineering and NEET (National Eligibility cum Entrance Test) for medical studies. Aakash has over 325 centres currently serving more than 4,00,000 aspirants across the country.

Gopal Snacks secures pre-IPO funding

Indian snack-maker Gopal Snacks has secured pre-IPO funding from 360 One Asset, Axis Alternative Investment Fund and White Oak Capital Management, reported The Mint.

The firms have together picked up a secondary stake in the firm for around Rs 100 crore to Rs 200 crore, to fund a loan taken by the founders of the company last year, added the report.

Gopal Snacks is planning an IPO in 2024, according to The Mint.

Founded in 1994, Gopal Snacks is an FMCG brand manufacturing wafers, snack pellets, corn products, noodles, papad, flour, spices, and other bakery items. The company is currently catering to nine Indian states and two Union Territories, with a strong presence in the western region.