Edtech major Byju's rights issue gets $300 million commitment: Report
19 February 2024
Edtech major Think and Learn, which operates under BYJU'S brand name, is learnt to have received a commitment of USD 300 million from investors for its ongoing rights issue which will close by the end of February, sources aware of the development said. 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 $220-250 million which is a 99 per cent reduction in its peak valuation of $22 billion.
Edtech major Think and Learn, which operates under BYJU'S brand name, is learnt to have received a commitment of USD 300 million from investors for its ongoing rights issue which will close by the end of February, sources aware of the development said. 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 $220-250 million which is a 99 per cent reduction in its peak valuation of $22 billion.
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