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Byju’s says $200 million rights issue that cuts valuation by 99% fully subscribed
Byju's says its recently launched $200 million rights issue has been fully-subscribed, but the startup's founder urged some of its major investors to Byju's says its recently launched $200 million rights issue, which cuts the edtech group's valuation by more than 99%, has been fully-subscribed.
Byju’s says its recently launched $200 million rights issue has been fully-subscribed, but the startup’s founder urged some of its major investors to participate amid a rift between the edtech group and some of its largest shareholders. A group of investors, including Prosus and Peak XV, have yet to show any interest in participating in the rights issue, according to a person familiar with the matter. However, Russia’s invasion of Ukraine in February sent markets downward, forcing Byju’s to put its IPO plans on hold, according to a source familiar with the matter.
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