Upgrad, the Indian edtech firm specialising in professional and academic upskilling, has formally filed an expression of interest to acquire Think & Learn Pvt. Ltd., the parent company of the financially distressed Byju’s.

Think & Learn’s portfolio includes Byju’s K-12 segment, Aakash Educational Services, Great Learning, and several other digital learning ventures. Upgrad’s focus is on the higher education and upskilling assets, rather than the K-12 offerings, aligning with its target audience of college students and young professionals seeking AI, machine learning, data courses, and job-oriented programs.

The acquisition opportunity arises as Think & Learn undergoes insolvency proceedings after the Board of Control for Cricket in India (BCCI) initiated legal action to recover ₹158 crore (£13.5 million) from a sponsorship dispute. Additionally, the company faces allegations in a Delaware bankruptcy court over missing USD $533 million (€464 million) from its US-based subsidiary, Alpha, which the company disputes.

Upgrad co-founder Ronnie Screwvala confirmed the EOI process, stating the company intends to review Think & Learn’s assets under the oversight of EY and follow due regulatory procedures. The strategy reflects Upgrad’s broader ambitions, including plans to go public and expand its offline presence with 40 new centres across India, particularly in the southern regions, by the end of the current financial year.

While Upgrad evaluates Think & Learn’s portfolio, its peers in the Indian edtech sector are also navigating investor and market challenges. PhysicsWallah recently launched a USD $393 million (€342 million) IPO with slower-than-expected uptake, highlighting the complex environment for edtech investments.

Discover the full details of Upgrad’s plans to acquire Byju’s parent and expand its higher education reach in the full story.