Byju Raveendran, founder and chief executive officer (CEO), Byju's, has offered its disgruntled investors the option to invest in the rights issue of the edtech company so that their shareholding is not diluted.
Cash-strapped Byju's parent company, Think & Learn, is raising $200 million through the rights issue to all its equity shareholders at a 99 per cent discount to the firm's peak valuation of $22 billion in 2022.
In a letter sent early on Friday, Raveendran informed shareholders that the company had secured more than 50 per cent of the vote through postal ballot first announced on March 7 ― to increase authorised share capital to account for the $200 million rights issue.
هذه القصة مأخوذة من طبعة March 30, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 30, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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