In order to restructure its $1.2 billion (Rs 9,600 crore) term loan B (TLB), EdTech major BYJU s lenders have sought up to $200 million (about Rs 1,600 crore) in prepayment along with a higher rate of interest, ET reported quoting people with direct knowledge of the matter. aaa
Byju Raveendran, founder and CEO, has reportedly financed his recent $400 million investment in the company through a debt he raised from multiple international banks, as the edtech giant plans for an IPO.
The Bengaluru-headquartered firm said in a statement that the company will introduce personalised and innovative learning offerings and set up a research and development center in Doha.
From LIC to BYJU s, 8 IPOs to launch in March 2022 - All you need to know - The upcoming month of March 2022 is expected to see many big players enter the market including the much-awaited LIC.