CCI Greenlights Manipal's Strategic Acquisition in Aakash Educational Services

The Competition Commission of India (CCI) has given the nod to the acquisition of a stake in Aakash Educational Services by the Manipal Group, overseen by Ranjan Pai. This transaction marks a significant expansion for the Manipal Health Systems and Manipal Education and Medical Group India (MEMG) in the education sector.

The acquisition involves the purchase of equity shares from JC Chaudhry, the founder of Aakash Educational Services, known for its excellence in preparatory services for medical and engineering entrance exams like NEET and JEE. This strategic move aims to bolster Manipal's presence and influence in the education domain.

Ranjan Pai, who holds a substantial 40% share in Aakash Educational Services, leads the charge with Manipal Health Systems and MEMG playing pivotal roles in the venture. CCI's approval is a crucial step forward in consolidating Manipal's footprint in the education and healthcare sectors.

(With inputs from agencies.)