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BYJU’S Gets $300 Mn Commitment In Ongoing Rights Issue

Inc42 · 1y

Parent company Think and Learn, which owns edtech giant BYJU'S, has secured a commitment of $300 million from investors for its ongoing rights issue. The rights issue aims to raise $200 million through equity rights, valuing BYJU'S at $220-250 million. Negotiations are taking place with unhappy investors to encourage their participation in the rights issue. BYJU'S also plans to appoint two independent directors to its board after finalizing its financial results for fiscal year 2023. The troubled edtech firm has faced losses, business model challenges, and conflicts with investors in recent years.