The Morning Brief Who will Buy Bankrupt Byju’s?
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Nov 21, 2025 Jessica Rajan, a business reporter for The Economic Times, and Manu Toms, an analyst from ET Prime, dive into the turmoil surrounding Byju’s insolvency. They discuss the intense bidding for key assets like Aakash and Great Learning, led by Ranjan Pai and UpGrad. Legal challenges and allegations of mismanaged funds complicate the situation. The power of the Glass Trust looms large, controlling the fate of creditors. The conversation paints a picture of distress and opportunity in the edtech landscape.
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Think And Learn Entered Insolvency
- Think and Learn entered insolvency after running out of cash and the RP is now accepting bids to sell assets to repay creditors.
- Major assets like Aakash and Great Learning are the primary targets in the auction process.
Manipal Already Controls Aakash
- Ranjan Pai converted debt into equity and now owns roughly 58% of Aakash after subsequent share purchases.
- Manipal's existing stake makes it a natural frontrunner for control of Aakash in the asset sale.
Great Learning Fits UpGrad's Strategy
- Great Learning posts positive metrics and fits UpGrad's higher-ed/upskilling focus, making it an attractive target for UpGrad.
- Distressed assets can be acquired at steep discounts, as past Byju's sales show.