<p>Edtech major BYJU'S will launch the Initial Public Offering (IPO) of its test preparatory arm Aakash Education Services Limited by middle of next year, the company said on Monday.</p>.<p>Aakash Education Services Limited (AESL) revenue is on track to reach Rs 4,000 crore with an EBITDA (operational profit) of Rs 900 crore in the fiscal year 2023-24, the company said in a statement.</p>.<p>"BYJU'S... will launch the Initial Public Offering (IPO) of its subsidiary, Aakash Education Services Limited (AESL) mid next year," BYJU'S said in a statement.</p>.<p>The board of BYJU'S has granted its official sanction for the IPO.</p>.<p><strong>Also Read:<a href="https://www.deccanherald.com/business/business-news/byju-s-faces-deadline-for-329-crore-payment-1224905.html" target="_blank"> Byju’s faces deadline for ₹329 crore payment</a></strong></p>.<p>"The appointment of the merchant bankers for the IPO will be announced soon to ensure a planned and successful listing next year.</p>.<p>"The upcoming IPO will provide a significant capital infusion to bolster Aakash's infrastructure, broaden its reach, and extend high-quality test-prep education to a larger number of students across the nation," the statement said.</p>.<p>BYJU'S acquired AESL for about $950 million, or about Rs 7,100 crore, in April 2021.</p>.<p>Since acquisition, Aakash has clocked a three-fold increase in revenue in the last two years.</p>.<p>According to Ken Research, test-prep market revenues are predicted to grow at a compound annual growth rate (CAGR) of 9.3 per cent over 2020-2025, led by the online test preparation segment which is predicted to grow at a CAGR of 42.3 per cent over the same duration.</p>.<p>"Aakash is uniquely positioned to capitalize on this growth due to its comprehensive range of offerings that combine the best of classroom-based learning with cutting-edge digital products and services tailored for engineering and medical entrance exams," the statement said.</p>.<p>Aakash has over 325 centres currently serving more than 4,00,000 students across the country. </p>
<p>Edtech major BYJU'S will launch the Initial Public Offering (IPO) of its test preparatory arm Aakash Education Services Limited by middle of next year, the company said on Monday.</p>.<p>Aakash Education Services Limited (AESL) revenue is on track to reach Rs 4,000 crore with an EBITDA (operational profit) of Rs 900 crore in the fiscal year 2023-24, the company said in a statement.</p>.<p>"BYJU'S... will launch the Initial Public Offering (IPO) of its subsidiary, Aakash Education Services Limited (AESL) mid next year," BYJU'S said in a statement.</p>.<p>The board of BYJU'S has granted its official sanction for the IPO.</p>.<p><strong>Also Read:<a href="https://www.deccanherald.com/business/business-news/byju-s-faces-deadline-for-329-crore-payment-1224905.html" target="_blank"> Byju’s faces deadline for ₹329 crore payment</a></strong></p>.<p>"The appointment of the merchant bankers for the IPO will be announced soon to ensure a planned and successful listing next year.</p>.<p>"The upcoming IPO will provide a significant capital infusion to bolster Aakash's infrastructure, broaden its reach, and extend high-quality test-prep education to a larger number of students across the nation," the statement said.</p>.<p>BYJU'S acquired AESL for about $950 million, or about Rs 7,100 crore, in April 2021.</p>.<p>Since acquisition, Aakash has clocked a three-fold increase in revenue in the last two years.</p>.<p>According to Ken Research, test-prep market revenues are predicted to grow at a compound annual growth rate (CAGR) of 9.3 per cent over 2020-2025, led by the online test preparation segment which is predicted to grow at a CAGR of 42.3 per cent over the same duration.</p>.<p>"Aakash is uniquely positioned to capitalize on this growth due to its comprehensive range of offerings that combine the best of classroom-based learning with cutting-edge digital products and services tailored for engineering and medical entrance exams," the statement said.</p>.<p>Aakash has over 325 centres currently serving more than 4,00,000 students across the country. </p>