AESL | Business Upturn

Asian Energy Services (AESL) secures ₹82 crore contract from Oil India for seismic data acquisition

Aditya Bhagchandani — Sun, 29 Sep 2024 08:03:53 +0000

Asian Energy Services Limited (AESL), a service provider across the upstream value chain, has won a contract from Oil India worth approximately ₹82 crores. This order involves 2D Seismic Data Acquisition over 4,300 line kilometers (LKM) in the Rajasthan Basin as part of Mission Anveshan. The project will be executed over 18 months and includes all taxes and duties.

With this new contract, AESL’s total order book now stands at around ₹1,000 crores. Commenting on the achievement, Mr. Kapil Garg, Managing Director of AESL, expressed excitement over securing the project, emphasizing that it reinforces the company’s position in the industry. He also stated the company’s commitment to actively seek growth opportunities across all business segments and deliver high-quality services.

About Asian Energy Services Limited (AESL)
AESL provides a range of services across the upstream value chain, including 2D and 3D seismic data acquisition, operations and maintenance of onshore and offshore production facilities, production enhancement services, and mining services. Since being acquired by Oilmax Energy Private Limited (OEPL), AESL has diversified its business, capturing more value in the energy and upstream oil and gas sectors to benefit investors and stakeholders in the long term.

Safe Harbor Statement
The company notes that forward-looking statements about plans, objectives, and project potential are based on current estimates and assumptions but are subject to risks and uncertainties, potentially leading to outcomes that differ materially from those anticipated. AESL assumes no obligation to update such forward-looking statements.

Bimal Dayal appointed CEO of Adani Infrastructure India

Dimple Gehlot — Sat, 09 Dec 2023 14:33:04 +0000

Bimal Dayal, CEO of Adani Energy Solutions Ltd, has been named the CEO of Adani Infrastructure India, as approved by the AESL board of directors. In an official statement, Adani Energy Solutions Ltd (AESL) announced that Dayal will be responsible for overseeing the execution of infrastructure projects in thermal, renewable energy, and green hydrogen by Adani Infrastructure India.

This executive transition marks a significant move for the Adani portfolio, emphasising their commitment to aggressively expanding the infrastructure business at a rate exceeding 15 percent per annum.

In an effort to maintain its position as the biggest infrastructure player in India, the portfolio has revealed plans to invest more than ₹7 lakh crore over the following ten years. The present AESL executive group, under the direction of Managing Director Anil Sardana and with Kandarp Patel in charge of all verticals, will pursue aggressive expansion in the transmission, distribution, and smart metering markets.

These strategic changes aim to support the accelerated growth of the Adani Infrastructure business. AESL, a part of the Adani portfolio, operates in power transmission, distribution, smart metering, and cooling solutions, boasting a cumulative transmission network of 20,000 circuit km. With a specific focus on smart metering, AESL aspires to be India’s leading smart metering integrator.

The company is committed to revolutionizing the energy environment in a sustainable, cost-effective, and dependable manner, as seen by its integrated offers, which include the expansion of its distribution network through parallel licensing. Building on their strong track record of completed projects, these leadership changes position AESL and Adani Infrastructure for major contributions to the global energy and infrastructure sectors.

Byju’s $1 Billion deal to acquire Aakash Educational Services

Govindraj Muttepawar — Mon, 05 Apr 2021 12:29:26 +0000

BYJU’S, the world’s leading education-tech company has announced its strategic partnership with Aakash Educational Services Limited (AESL). According to sources, the deal is worth close to USD 1 billion (about 7,300 crores) — making it the biggest acquisition by Byju’s to date.

India’s biggest online-education startup Byju’s on Monday said that it has acquired brick & mortar test prep leader Aakash Educational Services Ltd through a strategic merger. Bjyu’s added that it will make further investments to accelerate Aakash’s growth. Post-acquisition, Aakash Educational Services will continue to function independently under the leadership of Founder JC Chaudhry and Aakash Chaudhry.

Byju Raveendran said, “I am happy to have Aakash Educational Services Limited (AESL), a market leader and the most trusted name in the test prep services, on board with us. Our complementary strengths will enable us to build capabilities, create engaging and personalized learning programs. The future of learning is hybrid and this union will bring together the best of offline and online learning, as we combine our expertise to create impactful experiences for students.”

India’s second-most valuable startup is backed by the likes of Facebook founder Mark Zuckerberg’s Chan Zuckerberg Initiative, Tiger Global Management and Bond Capital, co-founded by Silicon Valley investor Mary Meeker.

Aakash Chaudhry, Managing Director and Co-promoter of Aakash Educational, said the two firms joining forces will offer “Very substantial and value-additive services to students.” The leadership at Aakash Educational will stay with the firm after the acquisition.

The acquisition will enable the two entities to build the largest omni-channel for students in India, he said. “Students who have wanted to access physical classrooms have gotten that from us. And those who wanted to access content and learning online has been served by Byju’s. Together, we will leverage the physical location and technology and online learning and offer students that is unique,” he said.