Who Is UAE Woman Bisy Philip? Here's Why She Is At The Centre Of Aakash And Byju's Drama Over Rights

The Aakash Institute and Byju’s corporate saga is once again all over the headlines after a United Arab Emirates-based businesswoman named Bisy Philip entered the conversation. As per the latest developments in the long-running corporate controversy, recent corporate filings show Philip subscribing to 32.2 million Aakash shares, estimated to be worth around Rs. 16.9 crore. Before the mention of the UAE businessman, Aakash was previously tied to a Singapore-based investment vehicle.

UAE investor named Bisy Philip emerges in Aakash rights issue: A fresh twist in Byju-Aakash dispute

The shift has raised so many questions about the identity of the UAE-based investor. Not only this, it is unclear at the moment whether it represents a proxy connected to other interests or an independent foreign investor. The introduction of the United Arab Emirates-based businesswoman, Bisy Philip, into the corporate battle has raised fresh confusion in the entire controversy.

However, neither Aakash Educational Services Limited (AESL) nor the investor entities associated with it have provided any clarification on Bisy Philip’s role. According to legal experts, Aakash requires board approval under Indian law if it plans to renounce its rights in favour of Bisy Philip. The ambiguity around Philip’s investment comes amid financial unravelling directly tied to Byju Raveendran’s ed-tech empire.

What is the Aakash rights issue all about? Here's everything you need to know about the Rs. 250 crore rights issue

For the uninitiated, the dispute is just like any other ordinary rights issue, a corporate mechanism in which the existing shareholders are allowed to buy new equity at a discount. In late 2025, Aakash announced a rights issue of Rs. 250 crore to raise fresh capital. According to reports, Beeaar Investco Pte Ltd and Manipal Group are the ones who subscribed to large portions, leading their total to around Rs. 74 crore.

Meanwhile, Byju’s parent company, Think & Learn Pvt Ltd (TLPL), holds 25.75 per cent of Aakash's shares and was allowed to subscribe only for Rs. 25 crore. After this, AESL entered the scene and put that subscription on hold, citing possible violation of the Indian regulatory norms. Due to AESL’s hold, TLPL’s subscription was blocked, and its huge stake in Aakash would dilute and drop below 5 per cent. If the predictions prove true, TLPL can drastically weaken its ownership position and influence over strategic decisions at Aakash. All these factors transformed this routine capital move into a high-stakes rights battle.

What’s even more unfortunate is the timing of this dispute, which comes as Byju Raveendran faces legal battles, regulatory scrutiny, and intense financial pressure on multiple fronts. Aakash Educational Services had already raised compliance concerns around long-pending merger and share-transfer issues between Think & Learn Pvt Ltd and Aakash. The original acquisition deal was valued at around USD 950 million in 2021, but the partnership suffered a major setback after it ran into liquidity issues.

Aakash's blocking of TLPL’s subscription has become a major flashpoint, as any rights renunciation to a foreign investor, such as the UAE-based Bisy Philip, requires explicit board approval. With no clarity on whether Philip is an independent investor or a proxy, the sudden shift from a Singapore-linked vehicle to a UAE-based one has deepened suspicion. At the same time, Byju Raveendran faces mounting trouble after a US Delaware court moved the Term Loan B case into a damages phase for January 2026, worsening his financial strain.

Experts say the outcome of the rights issue will shape Aakash’s governance and future IPO plans amid this escalating corporate clash. According to industry experts, the outcome of the Aakash rights issue will have a major impact on Byju’s stake and will determine many aspects of Aakash's future governance. It will be interesting to see whether the AESL will finally clarify Bisy Philip’s role in this escalating corporate showdown.

With the involvement of the UAE-based businesswoman, Bisy Philip, the high-stakes fight over control and compliance between Aakash and Byju's is once again in the spotlight. What are your thoughts about it? Let us know.

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