CCI approves Manipal Group’s acquisition of stake in Aakash Educational Services
This acquisition aligns with the Manipal Group’s broader strategy to expand its footprint in India’s education sector, especially in the high-demand test-prep space.
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The Competition Commission of India (CCI) has approved a proposed acquisition involving Manipal Health Systems Private Limited and Manipal Education and Medical Group India Private Limited, jointly acquiring a stake in Aakash Educational Services Limited from its individual shareholder, J.C. Chaudhry.
This transaction marks a significant move by the Manipal Group, traditionally known for its presence in healthcare and education, into the rapidly growing test-prep and coaching sector.
Aakash Educational Services Ltd (AESL) is one of the coaching institutions, which provides a range of educational services through multiple formats including classroom coaching, online learning, distance education and hybrid learning. Its offerings cater to students from Class 8 to Class 12, covering school curriculum support, preparatory coaching for scholarship and merit-based entrance exams such as NTSE, Olympiads, and intensive coaching for engineering and medical entrance exams like JEE and NEET.
AESL operates through a combination of direct centres, subsidiaries, and franchisees across the country.
The approved combination pertains to the acquisition of equity shares in Aakash Educational Services by the Manipal entities from J.C. Chaudhry, a key individual shareholder in the company. The transaction details, including stake size and valuation, have not yet been publicly disclosed.
This acquisition aligns with the Manipal Group’s broader strategy to expand its footprint in India’s education sector, especially in the high-demand test-prep space. It also signifies a new phase for AESL, which has seen rapid expansion over the past decade and has previously been associated with investments from global players. A detailed order from the Commission outlining the competition assessment is expected to follow shortly.
