The Manipal Education & Medical Group (MEMG) has formally entered the running to acquire Think & Learn Pvt Ltd, the insolvent parent of the ailing edtech startup company BYJU’S.
MEMG, which also manages the Manipal Academy of Higher Education (MAHE), confirmed yesterday, Thursday, November 13 that it had submitted an expression of interest (EoI) in the corporate insolvency resolution process (CIRP) of Think & Learn, as overseen by India’s National Company Law Tribunal (NCLT), Reuters reports.
BYJU’S experienced a meteoric rise during the COVID-19 pandemic, at one point boasting a valuation of about USD 22 billion in 2022, before financial difficulties, such as unpaid dues, boardroom exits and drops in investor confidence, led to…