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In an Extraordinary General Meeting (EGM) notice, a copy of which ET has reviewed, the investors said the company s value has eroded due to the management s neglect in enforcing its legal rights. More Ideas General Trading, the sole selling agent of Byjus in GCC countries, owes the edtech firm over Rs 1,400 crore, which the company has been unable to recover despite paying over Rs 300 crore in commissions on sales of Rs 634.18 crores recorded in FY22. ....
India Business News: Discover how the Netflix model can potentially save India's online learning apps. Read about the success of Physics Wallah and its impact on the online test-prep business in India. ....
Online Learning Apps: Byju’s rapid decline has put a big dampener on that excitement. Yet, online education is still a viable proposition in the world’s most-populous nation, though it’s the test-prep market that has real demand, not K-12 or coding. ....
BYJU S floated a rights issue in January to raise USD 200 million through equity rights issue at an enterprise valuation in the range of USD 220-250 million which is a 99 per cent reduction in its peak valuation of USD 22 billion. ....