New Delhi: Edtech company Byju’s, mired in several controversies amid a cash crunch, has moved the Karnataka High Court against the order of the National Company Law Tribunal (NCLT), which restrained it from going ahead with its second rights issue. The second rights issue commenced on May 13 and was expected to end on June … Read more
New Delhi: Embattled edtech company Byju’s said on Tuesday that it has started batches for the 2024-25 academic session at 240 out of its 296 tuition centres, as it struggles to pay salaries to its employees. Byju’s tuition centres provide classroom-based programmes for K-12 students. For the current academic year, the company said it has … Read more
New Delhi: Embattled edtech company Byju’s on Friday held its extraordinary general meeting (EGM) called by the board of directors to raise the capital via the rights issue without any hassles. The EGM, called to increase Byju’s authorised share capital, met with no objection and none of the key investors who went to the National … Read more
New Delhi: Embattled edtech company Byju’s on Sunday announced that it has disbursed a portion of the pending salaries for over 20,000 employees for the month of February. The company has also promised to pay the remaining balance, once it is allowed to use the funds from the recently closed rights issue. “We processed part … Read more
Published By: Mohammad Haris Last Updated: February 23, 2024, 19:08 IST More than 60 per cent of shareholders of edutech Byju’s on Friday voted for removal of founder CEO Byju Raveendran and his family over alleged mismanagement and failures at the company. Prosus, one of the six investors in Byju’s who had called the extraordinary … Read more
New Delhi: Edtech firm Byju’s rights issue to raise $200 million at a 99 per cent valuation cut has been fully subscribed. In a shareholders’ letter accessed by IANS, founder and CEO Byju Raveendran said that this $200 million raise will give the company “the capital it needs to ensure that we can take care … Read more
New Delhi: Around six investors in Think and Learn Private Limited, which operates under BYJU’s brand, have called for an extraordinary general meeting to address issues at the edtech major and oust founders from having control over the firm, sources aware of the development said. The investors led by Dutch investment firm Prosus in the … Read more
New Delhi: Edtech major Byju’s is reportedly seeking new funding at around $2 billion valuation, down from its top valuation of $22 billion in early 2022. The company, which announced its audited FY22 financial results on Tuesday after a long gap, aims to raise $100-$200 million via a rights issue, reports TechCrunch, citing people familiar … Read more
New Delhi: While edtech major Byju’s has recently made headlines for all the wrong reasons, the company-owned Aakash Educational Services has saw its profit increase by 82 per cent to Rs 79.5 crore in FY22. It is a significant improvement for the company as it saw a profit of Rs 43.6 crore in FY21, reports … Read more
