Byju's takes Rs 300 crore unsecured loan from Aakash at a rate of 7.5%

Aakash Educational Services was acquired by Think and Learn Pvt, Byju's parent company, in April 2021 for a cash and stock deal worth $950 million

Byju's parent company, Think & Learn, has reportedly taken an unsecured loan of Rs 300 crore from Aakash Educational Services. According to a report by Moneycontrol, the loan has been taken for "principal business activities". It has been granted at an interest rate of 7.5 per cent.

Aakash is a wholly-owned subsidiary of the group. It was acquired in April 2021 for a cash and stock deal worth $950 million.

"Think & Learn is in the requirement of funds for its principal business activities. Hence at the request of Think & Learn, the Board of Directors of the company in