26 June 2024
Prosus has marked down the value of its shareholding in embattled edtech Byju's to zero and recorded a fair value loss of $493 million on account of its investment in the company, the the tech investor said in its FY24 annual report on June 24.
It held a 9.6 percent effective stake in Byju's before the company's rights issue.
"We have impaired Byju's down to zero at the end of FY24. We have written down Byju's primarily because we have inadequate information on company’s financial health, liabilities, and future outlook," a Prosus spokesperson said.
Prosus has marked down the value of its shareholding in embattled edtech Byju's to zero and recorded a fair value loss of $493 million on account of its investment in the company, the the tech investor said in its FY24 annual report on June 24.
It held a 9.6 percent effective stake in Byju's before the company's rights issue.
"We have impaired Byju's down to zero at the end of FY24. We have written down Byju's primarily because we have inadequate information on company’s financial health, liabilities, and future outlook," a Prosus spokesperson said.
Stay Connected, Stay Informed –
Don’t miss out on exclusive updates, market trends, and real-time investment opportunities. Be the first to know about the latest unlisted stocks, IPO announcements, and curated Fact Sheets, delivered straight to your WhatsApp.