Manipal's Bid for Byju's Parent: A New Chapter in Ed-Tech

Manipal Education and Medical Group has stepped into the spotlight with their interest in acquiring Think and Learn, the troubled parent company of Byju's. This move comes as no surprise, given the current state of the ed-tech giant. Byju's, once a shining star in the education technology world, has seen its fortunes take a dramatic turn. With operations in over 21 countries, it gained immense popularity during the COVID-19 pandemic. However, its valuation skyrocketed to $22 billion in 2022, only to plummet in 2024 due to unpaid debts, leadership changes, and accusations of poor management. Byju's has consistently denied any wrongdoing. The insolvency process for Think and Learn is currently underway before the country's company law tribunal. Manipal Education's interest in bidding for Think and Learn is not their first attempt. They had previously submitted an expression of interest, and the deadline for submissions was extended to November 13.Manipal Education, which holds a majority stake in Aakash Educational Services, sees this potential acquisition as a strategic move for business consolidation. In 2021, Byju's acquired Aakash for a substantial sum of 78. 85 billion rupees ($950 million). Manipal Education's chairman, billionaire Ranjan Pai, became Aakash's largest shareholder in 2024, according to media reports. The ed-tech sector has been volatile, with rapid growth followed by significant challenges. Byju's rise and fall highlight the risks and rewards of investing in this dynamic industry. Manipal Education's bid for Think and Learn could mark a new chapter in the ed-tech world, but only time will tell how this story unfolds.