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India court permits Byju’s key shareholder meeting for $200M rights issue
Byju's secured favorable outcomes in two court hearings Thursday, paving the way for the embattled edtech startup to move ahead with the extraordinary Byju's secures favorable outcomes in court hearings, paving the way for the Indian edtech startup to move ahead with the EGM.
Byju’s secured favorable outcomes in two court hearings Thursday, paving the way for the embattled edtech startup to move ahead with the extraordinary general meeting scheduled for Friday. The National Company Law Tribunal refused to stay on Thursday Byju’s planned EGM to increase the authorized share capital for the $200 million rights issue. The rights issue is crucial for Byju’s, once India’s most valuable startup, as it seeks to tap the $200 million it has already received from a set of investors, including Raveendran.
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