Manipal’s Ranjan Pai acquires Rs 1,400 crore Davidson Kempner debt on BYJU’s

Manipal Education and Medical Group Chairman Ranjan Pai has acquired a Rs 1,400 crore debt raised by edtech major BYJU’s from Davidson Kempner, sources said. The settlement includes a penal amount claimed by Davidson Kempner against debt investment of USD 100 million, or about Rs 800 crore. BYJU’s had entered into an agreement with Davidson Kempner in March to raise USD 250 million, of which it received USD 100 million in first tranche.