BYJU’S To Acquire Akash Educational Services In Rs 7,300 Crore
BYJU’S to acquire Akash Educational Services deals worth Rs 7,300 crore. Byju’s, a major online education sector company, will now acquire Akash Educational Services, the premier education company. The deal is expected to be finalized for $ 1 billion (about Rs 7,300 crore).
According to the news, it will take two-three months to complete this deal. Byjus raised around Rs 3,689 crore from global technology investment company Silver Lake in September last year.
By then the market value of Byzus was $ 10.8 billion (Rs 80,000 crore). In fact, during the Corona crisis, people were unable to go out of their homes, in such a way, in online education, Byzus has added a large number of students.
While the functioning of Akash Educational Services was affected by Corona. It is known that Aakash Educational is known as a big name in preparing for school board and medical and engineering competitive examinations.
While EduTech’s investors include General Atlantic, Tiger Global and Owl Ventures. Byjus’ income had increased to Rs 2,800 crore in FY 2019-20.
When Corona was at its peak, in September 2020, according to the company, more than 6.4 crore students are associated with its app, while talking on an annual basis, the number of paid subscribers of the app is 4.2 million.
In the recent few years, if online education has expanded rapidly around the world, online education has also increased in India. It is estimated that by next year, its size in India alone will be worth $ 3.5 billion.
In preparation to give KCC to all the beneficiaries of PM Kisan, 4.5 crore farmers will benefit, loans will be available at concessional rates In order to increase the income of farmers, the government may announce a Kisan Credit Card (KCC) to all the beneficiaries of PM Kisan Yojana within the stipulated time.
With the help of KCC, these farmers will also be able to get loans related to agricultural work easily at a low interest rate. Under the KCC, there is a discount of two percent on the interest rate on loans up to three lakh rupees for agriculture and allied works. There is also a provision for additional relaxation in interest rates on timely repayment of loan.
At present 11.5 crore farmers are connected with PM-Kisan, but 6.5 crore farmer has KCC facility in the country. According to the ministry sources, the remaining 4.5 crore farmers have very little land. These farmers, who live on the land of others, do not have any credit records.
