Wednesday, June 07, 2023
Outlook India
Outlook Business

Byju S

The Indian edtech major has also accused the investment firm of leading a group of lenders to play predatory tactics against the company

The IPO for Byju's tutoring services division was previously planned for 2023, which was postponed as the edtech decacorn battled various challenges

When asked, Byju’s declined to comment on the coupon payment

The start-up led by Byju Raveendran proposed a 200-300 basis point hike in interest rates as a pre-condition of restructuring the loan

Prior to this, Blackrock slashed its valuation to $11 billion in February

Byju’s Alpha is facing a lawsuit in Delaware court about the company's control, after lenders claimed that it had defaulted on its payments

Founded by entrepreneurs Anshul Rai and Varun Rathi, Happay has an employee bandwidth of more than 450 employees

Prior to this, Neuberger Berman, a New York-based investment management firm slashed PharmEasy’s valuation by 21 per cent to 4.4 billion as of February 28

The edtech raised $250 million from US-based investment firm Davidson Kempner, which is part of the $1 billion funding round it hopes to close this month

The firm had received a foreign direct investment of nearly Rs 28,000 crore between 2011 and 2023