NCLT orders Byju's to halt its $200m second rights issue due to failed funding in the first one.
India's NCLT orders Byju's to halt its $200m second rights issue due to failed funding in the first one. The edtech startup faces allegations of mismanagement and oppression from shareholders. NCLT instructs Byju's to maintain status quo on existing shareholdings until a petition by investors General Atlantic and Sofina is addressed. The startup's first rights issue in January resulted in a significant valuation decline from $22bn to $25m.
June 13, 2024
3 Articles