Global private equity firm Blackstone will invest about ₹3,545 crore ($500 million) in engineering and medical entrance test preparation platform Aakash Educational Services Ltd. Aakash has 200 centres in 130 cities, teaching more than 2.5 lakh students, and a fast-growing digital business.
Founded by JC Chaudhry about three decades back, Aakash has demonstrated consistent results in both medical and engineering entrance examinations. As Aakash prepares for its next stage of growth, Blackstone’s investment will bring in the expertise and network in the education sector globally, besides a team of accomplished professionals. Blackstone has helped bring Deborah Quazzo, a leading education technology investor, on to the board of Aakash.
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