EVEN THE MOST conservative observers will concede that the Byju's saga has barely unfolded. The once-storied edtech unicorn has seen a dramatic drop in its valuation and has witnessed a very combative relationship between its promoters and investors. Plus, it is trying to address its precarious financial situation.
Things came to a head earlier this year when Byju's, once valued at $22 billion, said it would raise $200 million through a rights issue. The company has said that the issue was oversubscribed, without disclosing details. It has been known for a while that the Bengaluru-headquartered entity has been looking to raise at least $1 billion. For the investors, if they did not participate in this issue, they could end up losing almost all their holdings in Byju's.
Esta historia es de la edición March 17, 2024 de Business Today India.
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Esta historia es de la edición March 17, 2024 de Business Today India.
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