The transaction will reportedly take place at BYJU’S current valuation of $22 Bn and is expected to close in a month’s time
.While $700 Mn would be raised via equity, the remaining $300 Mn would be secured through structured instruments
The funding round will help BYJU’S avert a potential debt crisis. The fresh funds will be used to prepay a part of the $1.2 Bn term loan B, which the company raised in 2021
Amid the ongoing funding winter and its multiple troubles, edtech decacorn BYJU’S is reportedly nearing a deal to raise a mammoth $1 Bn from investors, in a mix of equity and structured instruments.
If the deal goes through, it would be one of the biggest funding rounds in the Indian startup ecosystem.