Great Learning co-founder buys back Indian unit from Byju's

The co-founder of upskilling business Great Learning that e-learning platform Byju's had acquired in 2021 has bought back the Indian unit of the sold company for a fraction of the $600 million that it was sold for, according to an executive with knowledge of the transaction, an account that is backed by documents filed with India's registrar of companies (RoC).

- Salman S.H. & Sneha Shah

As millionaire businessman Byju Raveendran and Think & Learn Pvt. Ltd, or TLPL, the flagship company in his edtech empire once courted by top venture funders and private credit companies of the world, battle creditors in insolvency proceedings, it has emerged that Mohan Krishna Lakhamraju struck a cash deal early in 2024 to buy back full control of Great Learning Education Services Pvt. Ltd, a business formerly owned by him and co-founders, one which still turns in revenues of nearly ₹500 crore a year in India.

The executive, who insisted on staying off the record, said $10 million was the value at which the Indian unit was bought back. Mint could not confirm this independently.