Byju Raveendran

Funds from Term Loan B lying With Non-US Subsidiary, Says Byju's

06/03/2024

Byju’s had taken a loan from certain US-based lenders in November 2021. For that purpose, an SPV named Byju’s Alpha was incorporated in Delaware in which the loan amount was transferred.

Corporate Affairs Ministry Expedites Inspection Of Crisis-Hit BYJU'S

26/02/2024

On Monday, the ministry sought to expedite the inspection and submission of the report regarding BYJU's. Specific details about the inspection could not be immediately ascertained.

Byju's EGM Gets Underway; Raveendran Byju Skips, Investors File Suit In NCLT

23/02/2024

Ahead of the EGM, a group of four investors of Byju's filed an oppression and mismanagement suit against the management of the company in the Bengaluru bench of the NCLT

$200 Million Rights Issue Fully Subscribed, Board Restructuring Planned: Byju Raveendran

21/02/2024

Byju Raveendran stated in an internal letter to shareholders that to ensure transparency regarding the usage of funds raised through the rights issue, the company will appoint a third-party agency to monitor it.

Byju's Vacates 400,000 Sq Ft Bengaluru Office Space To Reduce Costs: Report

20/02/2024

The company terminated the rental agreements for the property at Prestige Tech Park earlier this year.

BYJU'S Rights Issue Gets $300 Million Commitment

19/02/2024

BYJU'S floated a rights issue in January to raise $200 million through an 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.

Byju's Investors To Vote On Board Ouster In Friday Meeting: Report

19/02/2024

The extraordinary meeting, expected to convene on Friday, will see the company's major shareholders voting to remove Byju Raveendran, Divya Gokulnath, and Riju Ravindran from the board of Think & Learn.

Edtech BYJU’s Wins Legal Tussle Over Stake Dispute With Aakash Institute: Report

07/02/2024

Manipal Group chairman Ranjan Pai is set to become the largest shareholder in Aakash Institute with a 40 percent stake in the company after the legal win.

Is There Any Value Left At The End Of Tunnel For Byju’s? 

02/02/2024

After major investors Blackrock and Prosus cut the valuation of the edtech firm to $1 billion and $3 billion, respectively, the latest rights issue pegs the pre-money valuation at a meagre $25 million, slumping more than 99% from its peak valuation of $22...

Byju's Claims Investors Don't Have Voting Rights On CEO Change; Adds $200M Rights Issue Is Progressing Well

02/02/2024

BYJU's stated that the company is committed to having a dialogue, even as the founders and leadership work on finding ways to address its increasing obligations.