Aakash Puts BYJU’S INR 25 Cr Share Allotment On Hold

Aakash’s board put the share allotment on hold citing non-compliance with FEMA rules, the Companies Act, or the ECB guidelines

The board approved the allotment of shares worth INR 58 Cr and INR 16 Cr to Manipal Group and Beeaar Investco Pte Ltd, respectively, under its INR 100 Cr rights issue

BYJU’S parent Think & Learn rights issue subscription came after a contentious period, with its resolution professional contesting Aakash’s capital raise before NCLT, NCLAT, and…