Edtech giant Byju's plans a $200M rights issue to support sustainability, possibly reducing its valuation by $250M.

Edtech giant Byju's is planning to raise $200 million through a rights issue to support its operational sustainability. The company aims to use the funds for ongoing capital expenditure and general corporate purposes, while the rights issue is likely to reduce its valuation by around $250 million from the $22 billion figure it hit in 2022. Byju's founders have stated their commitment to the company's mission, despite the financial challenges faced in recent months. Additionally, overseas lenders have filed a petition against Byju's parent company, Think and Learn Private Limited, to initiate corporate insolvency resolution proceedings, a step the company is contesting.

January 29, 2024
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