🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

BYJU’S seeks $300 Mn infusion from investors in exchange for larger shareholding

Inc42 · 1y ago

BYJU’S seeks $300 Mn infusion from investors in exchange for larger shareholding

BYJU'S CEO Byju Raveendran has requested investors to infuse $300 million into the troubled edtech firm in exchange for a larger shareholding. Shareholders have also urged Raveendran to revamp the company's board to have a greater say in its operations. The negotiations are ongoing, and a deal could materialize in the coming months. This development comes amid multiple legal and governance challenges faced by BYJU'S, including a legal battle with lenders and the Enforcement Directorate's investigation for alleged violations.

Related News

Byju’s rights issue gets $300 million commitment

Economic Times

Economic Times · 1y ago

Byju’s rights issue gets $300 million commitment

Byju's, the edtech giant, has reportedly secured a commitment of $300 million from investors for its ongoing rights issue. The company had floated a rights issue in January to raise $200 million at a reduced valuation of $220-250 million. Byju's has offered to appoint two independent directors to increase transparency, but only after the rights issue and the declaration of its 2023 fiscal results. Miffed investors are in discussions with Byju's, and if they don't participate in the rights issue, their shareholding will decrease by 50%.

Zepto set to raise $300 million to boost domestic shareholding amid quick commerce battle

Economic Times

Economic Times · 8m ago

Zepto set to raise $300 million to boost domestic shareholding amid quick commerce battle

Quick commerce startup Zepto plans to raise $300 million from domestic investors, doubling its initially planned $150 million round. The capital infusion will come from top family offices and ultra-high-net-worth individuals, increasing Indian shareholding in Zepto to around 35%. Celebrities like Amitabh Bachchan and Sachin Tendulkar are also joining the funding round. Zepto, which recently surpassed 1 million daily orders, aims to strengthen its relationships with high-quality domestic investors before beginning the IPO process. The company has already raised $1 billion in previous funding rounds.

BYJU’S Gets $300 Mn Commitment In Ongoing Rights Issue

Inc42 · 1y ago

BYJU’S Gets $300 Mn Commitment In Ongoing Rights Issue

Parent company Think and Learn, which owns edtech giant BYJU'S, has secured a commitment of $300 million from investors for its ongoing rights issue. The rights issue aims to raise $200 million through equity rights, valuing BYJU'S at $220-250 million. Negotiations are taking place with unhappy investors to encourage their participation in the rights issue. BYJU'S also plans to appoint two independent directors to its board after finalizing its financial results for fiscal year 2023. The troubled edtech firm has faced losses, business model challenges, and conflicts with investors in recent years.

Elon Musk's xAI reportedly looks to raise $300M in tender offer

TechCrunch · 1m ago

Elon Musk's xAI reportedly looks to raise $300M in tender offer

Elon Musk's AI startup, xAI, is reportedly planning a $300 million share sale, valuing the company at $113 billion. This secondary stock offering allows employees to sell shares to new investors, potentially leading to a larger investment round. The move comes as Musk seeks to focus more on his companies, including xAI, amid setbacks such as Tesla's declining stock and xAI's missed deadlines for its AI model, Grok.

Byju’s says $200 mn raise done, to appoint two investor directors

The Arc Web

The Arc Web · 1y ago

Byju’s says $200 mn raise done, to appoint two investor directors

Indian edtech giant Byju's has successfully raised $200 million through a rights issue. The funding will cover existing liabilities and provide growth capital for the company. In this funding round aimed at existing investors, Byju's adjusted its pre-money valuation to $20 million. As part of the rights issue, the company will appoint two non-executive directors to its board. This move comes as a consortium of investors seeks to remove founder Byju Raveendran and reconstitute the board, expressing concerns over leadership and stability. Raveendran emphasized the importance of unity and support for the rights issue.

Byju’s EGM: Investors pass resolution to oust CEO Raveendran

Thehindubusinessline

Thehindubusinessline · 1y ago

Byju’s EGM: Investors pass resolution to oust CEO Raveendran

In a recent development, a group of investors in Think & Learn (T&L), the parent company of Byju's, voted to remove the CEO Byju Raveendran from the company and change the board of directors. The investors, holding about 60% of the shareholding, passed several resolutions to address governance and financial concerns. Byju's, however, has declared these resolutions invalid, stating that they were passed without a valid quorum. This comes as a group of investors, including Prosus, has filed a petition to the National Company Law Tribunal (NCLT) for alleged oppression and mismanagement of the company.

BYJU’S, Aakash Shareholders flag valuation concern over Ranjan Pai’s $300 Mn conversion move

Inc42 · 1y ago

BYJU’S, Aakash Shareholders flag valuation concern over Ranjan Pai’s $300 Mn conversion move

BYJU'S shareholders, including investors Blackstone and Prosus NV, have raised concerns over the approval to convert a $300 million investment made by Ranjan Pai of Manipal Education and Medical Group (MEMG) into equity. They argue that the conversion will dilute the value of their stakes in the company. The approval was given by the board of Aakash Institute, a subsidiary of BYJU'S. The shareholders claim that the conversion was based on a lower valuation for Aakash compared to the price paid by BYJU'S for its acquisition.

Paytm’s FDI down by 2% in Q1 FY25; retail investors and MFs increase stake

Entrackr

Entrackr · 1y ago

Paytm’s FDI down by 2% in Q1 FY25; retail investors and MFs increase stake

One 97 Communication Limited, the parent company of Paytm, has updated its shareholding pattern for Q1 FY25 with the stock exchange on Friday. The revised shareholding indicates a rise in the stocks held by retail investors and mutual funds, according to data sourced from the firm’s Bombay Stock Exchange (BSE) filing. According to the filings, the retail investors’ shareholding grew by 1.3% to 16.56% from 15.32% whereas the mutual funds have increased their bets on Paytm’s shares by 0.65% to 6.80% in Q1 FY25. The investment led by Mirae and Nippon helped Paytm to increase domestic institutional investors’ stake by 0.29% to 7.15% during the first quarter of the ongoing fiscal year (Q1 FY25). Paytm also saw a 2% decrease in its total foreign direct investment (FDI) to 37.77% in Q1FY25, filing shows. The considerable decrease in FDI was due to the major exit of SoftBank (SVF India Holdings) which currently commands less than 1% in Paytm. Foreign Portfolio Investors (FPIs) currently command 20.47% stake in Paytm with a marginal decline by 0.16% sequentially. As per the board meeting disclosure, Paytm’s parent will publish its Q1 results on July 19. The public firm is expecting a revenue of Rs 1500-1600 crore with EBITDA before ESOPs of negative Rs 500-600 crores.

Byju’s founder may use Aakash stake to get cash lifeline

The Arc Web

The Arc Web · 1y ago

Byju’s founder may use Aakash stake to get cash lifeline

Byju Raveendran is reportedly planning to use his direct shareholding in Aakash, a test-prep chain, to generate liquidity for his edtech group, Think & Learn. He aims to raise approximately Rs 600 crore to finance operations and settle dues. Aakash has attracted interest from investors like Ranjan Pai of Manipal Group. Raveendran has already arranged funds by pledging his properties and personal shares. Think & Learn is also evaluating options to find buyers for its international businesses. The company has undergone a massive restructuring exercise and reduced over 5,000 jobs.

Byju’s EGM concludes without objections to increase in share capital

Thehindubusinessline

Thehindubusinessline · 1y ago

Byju’s EGM concludes without objections to increase in share capital

The extraordinary general meeting (EGM) of Byju's, an edtech firm, saw no objections raised on the resolutions discussed to increase authorized share capital. The board is considering offering renounced shares to dissenting shareholders to avoid dilution of their shareholding. The company board has secured over 50% of the votes needed to increase share capital, paving the way for its $200 million rights issue. Despite legal actions from some shareholders, Byju's expressed a willingness to include all shareholders in its turnaround story. The next hearing for the plea filed by investors in the National Company Law Tribunal (NCLT) is scheduled for April 4.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Download the medial app to read full posts, comements and news.