Prosus marks down Byju's investment value to zero, records a loss of $493 million

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.