Deepak Mehrotra has been named managing director and chief executive officer of Aakash Educational Services Limited (AESL), which is owned by the edtech company Byju’s.
Aakash Institute appoints new MD and CEO
Mehrotra held the position of Managing Director at Ashirvad Pipes before coming to AESL. Mehrotra has over 35 years of experience in senior positions in the FMCG, telecom, and education industries. He has held positions at companies including Asian Paints, Pearson India, Bharti Airtel, and Coca-Cola.
Aakash Institute appoints new MD and CEO
According to a news release from the company, Mehrotra’s appointment is an aspect of AESL’s strategic goal to enhance its services, broaden its audience, and positively influence the education sector.
Aakash Institute appoints new MD and CEO
“In his role as CEO, he will be responsible to deliver on our aggressive growth plan and to build on the significant momentum the company is currently experiencing. His business acumen and stellar record as the Managing Director for Pearson India will be pivotal in leading Aakash BYJU’S into its next phase of growth and impact,” said Byju’s Raveendran, founder and chairman of Byju’s.
Aakash Institute appoints new MD and CEO
Aakash has been getting ready for its potential IPO this year. Aakash provides engineering and medical candidates with classroom, distance learning, NEET, IIT-JEE, Olympiad, NTSE, and classroom instruction.
Aakash Institute appoints new MD and CEO
Byju’s declared in June 2023 that Aakash would go public in June 2024, or within the next 12 months. In order to pay off the debt collected from Davidson Kempner in May of last year, Aakash additionally received $168 million in November from Manipal Education and Medical Group chairman Ranjan Pai.
Aakash Institute appoints new MD and CEO
In April 2021, Byju’s paid $940 million to acquire Aakash. The Chaudhry family, who founded AESL, declined to exchange their remaining ownership, citing concerns over governance. Both just retracted their merger petition. Under the Think and Learn brand, the two businesses continued to operate independently as distinct enterprises.
Aakash Institute appoints new MD and CEO
Aakash has not yet released its FY23 financial results, however in FY22, the company revealed a roughly 45% increase in operational revenue. Simultaneously, it reported an 82% increase in profit to Rs 79.5 crore in FY22, and in the fiscal year that ends in March 2023, revenue is predicted to surpass Rs 2,000 crore.
