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Majority of shareholders approve Byju's EGM proposal to increase authorised share capital

Economic Times · 7m

Majority of shareholders approve Byju's EGM proposal to increase authorised share capital

Shareholders of edtech firm Think and Learn, owner of Byju's, have approved a resolution to increase its authorized share capital by USD 200 million through a rights issue. Although a group of investors opposed the move, the majority voted in favor during the Extraordinary General Meeting (EGM) held on March 29. The approval allows Byju's parent company, Think and Learn Private Limited, to issue new shares and address liquidity issues such as unpaid salaries and regulatory dues. However, an interim order from the National Company Law Tribunal requires the funds raised to be held in an escrow account pending further hearings.

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Comments

Mahesh KumarFrom Andhra.....

They should focus on business strategy and avoid working with government institutions without approved payments. To serve government based institutions better have ad based content with no payment risk.

7 months ago

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