After reducing the valuation of Byju's in April, BlackRock, the US-based firm, has again slashed the valuation of the edtech company to about $8.4 billion, about 62% cut.
BlackRock is a minority investor in Byju's and this comes at a time when the edtech company is yet to file its FY22 results with the Ministry of Corporate Affairs (MCA).
Byju's recently raised $250 million in a fresh funding round and investment firm Davidson Kempner has invested in the company.
The fund-raising announcement came a few days after the Enforcement Directorate (ED) conducted searches and seizure action at the premises of the edtech major under the provisions of Foreign Exchange Management Act (FEMA).
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Are Manchester City making a case for England’s greatest-ever team?
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BACK TO THE FUTURE
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