JC Chowdhary, founder of Aakash Educational, bought a property worth 51 crores in Delhi, for the third time after the deal with Byjus.

Jagdish Chand Chaudhary, founder of Aakash Educational Services Ltd, has bought a residential property worth Rs 51 crore in New Delhi’s Greater Kailash area. According to a report in Livemint, Chowdhary bought the property from Infinity Buildwell Pvt Ltd. Spread over an area of ​​836.12 square metres, Choudhary has paid Rs 3.06 crore as stamp duty for this property. According to the report, this is the third property Choudhary has recently bought in New Delhi. These three properties were bought after his company was sold to Edtech firm Byju’s.

Let us tell you that Byju’s had announced to buy Aakash Educational Services in April 2021 through a cash and stock deal of $ 950 million (about Rs 7,700 crore). However, Byju’s came back in July this year and informed about the completion of all transactions related to this deal. This is one of the biggest deals in the education sector of India.

Bought 2 more properties in South Delhi

Chowdhary had earlier bought a farmhouse in South Delhi for Rs 96 crore and before that he had bought a 2,000 square yard property in South Delhi’s Vasant Vihar for Rs 100 crore.

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Please tell that Aakash Educational Services is an offline coaching chain. It is a profitable company and a strong brand with a strong understanding of the country’s education sector.

Preparation for IPO of Aakash Educational

Meanwhile, a few months ago there was news that Byju’s is preparing for the listing of its subsidiary Akash in the first half of next year. The size of Aakash’s IPO could be in the range of $1 billion with a company valuation of $3.5-4 billion. The company is expected to file draft papers with the market regulator by January next year and plans to list by June, 2024 or in the first half of FY24.

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