Page 10 - Byju's

Seeking a change of guard: Key investors likely to drag Byju's to NCLT

Earlier this month, these shareholders had issued a notice calling for an EGM to address "persistent issues", including a change in management

Now, Blackstone objects to Aakash Educational Services' debt conversion

Think & Learn Pvt Ltd, which operates under Byjus brand name, is currently the major shareholder of Akash Education Services, a physical tutorial company

Startup world gauges spillover effect of edtech firm Byju's web of crises

Byju's income grew to Rs 5,298.43 crore in FY22. But its losses widened to Rs 8,245.2 crore in FY22. Its total expenses for FY22 rose by 94 per cent to Rs 13,668.44 crore

Byju's pays Jan salaries; Raveendran says moving mountains to make payroll

"To be clear, this fight is only against a few vested interests who were trying to sabotage the company by impeding the rights issue," CEO Raveendran said in a letter addressed to the employees

Byju's US unit files for bankruptcy, lists liabilities of $1 bn to $10 bn

US unit of Indian education technology startup Byju's has filed for Chapter 11 bankruptcy proceedings in the U.S. court of Delaware, listing liabilities in the range of $1 billion to $10 bn

Byju's fights back: Investors have no voting rights on CEO change

The edtech company responded to statements from select investors calling for an extraordinary general meeting (EGM) to replace founder and group CEO Byju Raveendran

Byju's claims 'certain investors' are conspiring against company

Byju's is facing multiple challenges, including a cash crunch, delays in financial reporting and legal disputes with lenders

Edtech firm Byju's says investors have no voting rights on CEO change

Edtech major Think and Learn Pvt Ltd, which operates under the brand name BYJU'S, on Friday said investors have no voting rights on the CEO or management change as per the shareholder's agreement. At least six BYJU's investors have called for an Extraordinary General Meeting (EGM) to address issues at the edtech major and oust founders from having control over the firm. "Think & Learn Pvt Ltd has noted with sorrow, statements from a select few investors calling for an EGM to replace founder and group CEO Byju Raveendran. Under these unfortunate circumstances, we would emphasise that the shareholder's agreement does not give them the right to vote on CEO or management change," the company said in a statement. The investors led by Dutch investment firm Prosus in the EGM notice requested the resolution of the outstanding governance, financial mismanagement and compliance issues and the reconstitution of the Board of Directors. "The resolutions being put forward for the EGM to ...

Shareholders Prosus, others call for ouster of Byju's founders in new salvo

'We are deeply concerned about the future stability of the company under its current leadership and with the current constitution of the Board,' the shareholders said in a statement

Byju's shareholders schedule meeting to oust edtech CEO and board: Report

This is the first time shareholders have banded together to issue a statement calling for a change in leadership at Byju's

Ranjan Pai may invest additional $50-60 million in Byju's-owned Aakash

Pai may intend to make additional investments in Aakash to spur business growth and scale the business during the upcoming enrolment season

Cash-strapped Byju's to raise $200 mn after taking 99% valuation cut

Equity rights issue likely at post-money valuation of $230-250 million

Byju's to raise $200 million via rights issue from existing investors

Byju Raveendran said that Byju's is now less than a quarter away from achieving operational profitability

TMS Ep617: Byju's GenAI, interim Budget, market rally, PM Suryoday Yojana

Can GenAI save Byju's? Will there be a special package for rural India in interim Budget? Will the markets see a pre-Budget rally? What is PM Suryoday Yojana? All answers here

US lenders take Byju's to NCLT to initiate insolvency proceedings

The lenders said this was done after over 16 months of efforts on behalf of the Ad Hoc Group to restructure the loans

Ranjan Pai to own 40% in Byju's Aakash Institute, make it debt-free

Aakash Institute's board has approved the conversion of Ranjan Pai's $300 million investment, making him the principal shareholder and rendering the company debt-free

Focus on reducing losses, bring in efficiency: Byju's India CFO Golani

The company has taken various measures to improve the company's operating financial conditions including scaling down the underperforming businesses significantly

FY22 report card: Edtech company Byju's losses widen to Rs 8,245.2 cr

Subsidiaries WhiteHat Jr, Osmo contributed to 45% of losses

Edtech major Byju's to slash $22 bn valuation by 90% to raise fresh funds

The company is focusing on rebuilding its core business and will double down on recent attempts to jump on to the next big bandwagon in education

Byju's reports Rs 5,014 cr in operating revenue, Rs 8,245 in losses in FY22

Edtech giant grapples with financial challenges as auditors raise concerns over $1.2 billion term loan