Byju’s, once India’s biggest edtech success story, is now fighting for survival. Its parent company, Think & Learn, has run out of money and is undergoing insolvency. That means its key assets including Aakash Educational Services and Great Learning are up for sale. Two big names are now competing for pieces of the company: Ranjan Pai, who already owns a majority stake in Aakash after converting debt to equity, and Ronnie Screwvala’s UpGrad, which is interested in Great Learning and other strong-performing units. But the final decision isn’t theirs. It lies with Glas Trust, the US lenders who hold 99% voting rights. They’re looking for the quickest repayment and are also pursuing allegations that $533 million was moved out of reach. Meanwhile, more than 20 legal cases and limited information from the promoters are slowing down the process. In this episode, host Dia Rekhi talks to ET’s Jessica Rajan and ET Prime’s Manu Toms to break down who’s bidding, what’s happening inside the insolvency, and what the future looks like for Byju’s.

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Credits: gyanwallahPW, Nas Summit, CNBC-TV18, moneycontrol, TechCrunch, BYJU'S, yourstorytv

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