The edtech company has mandated all its employees to work from home as it gives up office spaces across the country amid a severe cash crunch, barring those working at its offline tuition centres.
Byju s, the beleaguered edtech giant, is seeing a glimmer of hope in its fight against a cash crunch. The NCLT has allowed the company to proceed with a crucial EGM scheduled for March 29. The EGM aims to increase Byju s authorised share capital, a necessary step for its $200 million rights issue.
The rights issue through which promoters of Byju's are seeking to infuse funds into the startup, is to close on Wednesday and the two sides cited technicalities if the rights issue could go ahead.