The beleaguered edtech major BYJU’S is planning to raise over $100 Mn to $200 Mn via a rights issue at $2 Bn, down 90% from peak $22 Bn valuation in 2022
However, BYJU’s India CFO Nitin Golani has said that the company is looking to raise capital in the range of $7 Bn-$8 Bn during its upcoming rights issue in February
This comes close on the heels of BYJU’S filing its FY22 results after a delay of 22 months, which saw losses surge 81% YoY to INR 8,245.2 Cr
Beleaguered edtech major BYJU’S is planning to raise $100 Mn to $200 Mn via a rights issue at a much lower valuation of $2 Bn. This is a nearly 90% valuation cut compared to its peak $22 Bn valuation at which the edtech decacorn raised funds in 2022, Bloomberg reported.
However, on the same day, BYJU’S India’s chief financial officer (CFO) Nitin Golani told PTI that the edtech startup is looking to raise capital in the range of $7 Bn-$8 Bn during its upcoming rights issue in February.