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Speaking to PTI, Mehrotra also said that digital alone can't meet aspirations of medical and engineering students looking to get into premium institutions, and it is important to address requirement of new learners. ....
Byju s floated a rights issue in January to raise $200 million at an enterprise valuation in the range of $220-250 million which is a 99 percent reduction in its peak valuation of $22 billion ....
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 EGM scheduled for March 29 will include a vote on increasing Byju s authorised share capital which will give effect to the rights issue floated by the company to raise funds to tide over its massive liquidity crisis ....
Edtech firm Byju s is undergoing cost-cutting and restructuring efforts, downsizing smaller assets and consolidating its focus on the top four to five cities. The company has identified offices and tuition centers for closure across 17 cities, reducing the count to approximately 250. Byju s faces financial challenges, including disputes with landlords over rental payments and legal issues related to a $1.2 billion loan ....