PE firm Blackstone and AESL founder Chaudhry family are looking to sell their residual stake 18 per cent stake in the tutoring chain shortly, sources aware of the matter said.
With Deepak Mehrotra joining as CEO recently, he will lead AESL's strategic vision to enhance its offerings, expand its reach, and positively impact the tutorial market. The move by the two shareholders to exit the company comes at a time when it is entering the new academic year with robust student enlisting.
Sources added that the exiting shareholders would want to capitalise on this growth story.
Blackstone and Chaudhrys are exploring a sale to private equity investors keen to get a foothold in the company, which is currently a subsidiary of Think & Learn. Media reports in the recent past have suggested that AESL could be a potential M&A target with investors including Bain Capital, Warburg Pincus and KKR circling it.
The jewel crown of Think & Learn, AESL’s profits rose 82 per cent to Rs 79.5 crore and reported a 45 per cent rise in revenue to Rs 1,421 crore in 2021-22.
Think & Learn, Ranjan Pai and Byju Raveendran collectively hold 82 per cent of Aakash, while Blackstone and Chaudhrys have 18 per cent.
