Wednesday, 21 February, 2024

Byju's Overcomes Valuation Cut Challenge

Byju's completes a $200 million rights issue, despite a 99% valuation cut. The rights issue was fully subscribed, indicating investor confidence in the company's prospects. This move comes as Byju aims to bolster its financial position and navigate challenges in the education technology sector. Despite the significant valuation adjustment, the successful subscription reflects Byju's resilience and strategic planning to sustain its operations and growth trajectory.