Business News
Home > Business News
Byju's aims to raise $200 mn via rights issue at drastic valuation cut
TIWN
TIWN
PHOTO : TIWN
New Delhi, Jan 29 : Think and Learn Private Limited (TLPL), the parent company of Byju's, on Monday announced to raise $200 million by way of a rights issue to all its equity shareholders, in its bid to achieve operational sustainability
The proposed rights issuance aims to fund the ongoing capital expenditure and support general corporate purposes, the company said in a statement. According to reports, the edtech major is going to raise funds at a drastic valuation cut of around $250 million, from its all-time high of $22 billion market valuation in 2022.
Add your Comment
Comments (0)
More Business News
- Sri Lanka green lights Elon Musk's Starlink satellite service
- Startups in India raise over $97 million in election result week
- Space infrastructure, geo-intelligence vital for national security: Experts
- Investors gain Rs 28 lakh crore in just 3 trading sessions as PM Modi set to begin 3rd term
- India embarks on clean energy journey amid billions of dollars investments opportunity