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Edtech giant Byju's rights issue gets $300 million commitment: Report

IndianStartupNews

IndianStartupNews · 8m

Edtech giant Byju's rights issue gets $300 million commitment: Report

Edtech company Byju's has seen a commitment of $300 million from investors for its rights issue, surpassing the initial target of $200 million. Despite a drop in valuation from $22 billion to $220-250 million, the company has received significant funding. To address investor concerns, Byju's has proposed appointing two independent directors to its board, aiming to enhance transparency. However, a group of investors has called for an Extraordinary General Meeting (EGM) to discuss concerns over governance, financial mismanagement, and board restructuring. Byju's plans to use the funds for various purposes amidst ongoing challenges.

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vaibhav singh

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8 months ago

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