Page 24 - Great Learning News Today

Byjus, Indias most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firms various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byjus amendment proposal...

Once the most-valued edtech firm in the world, Byju’s is now battling serious funding issues, a corporate governance crisis and court battles. The firm will have to urgently raise at least $1.5 billion and set its house in order. Can it succeed?

Byjus, which paid about $375 million for acquiring Epic in 2021, is expecting to garner about $400-550 million. The company has received three term sheets for Epic and the deal talks are at advanced stages.

Byjus has been working with bankers to sell the two assets to strategic investors and the sources told us it has garnered some interest. Simultaneously, it is in talks to raise fresh equity capital, the people added.

Caught in a maelstrom of funding constraints, loan repayment issues and bad governance, Byju’s stands at the edge of a precipice, where a forced and unwelcome transformation in size and shape is necessary for survival

Indian education giant Byjus is looking to sell two companies it acquired in 2021 - Great Learning and Epic - to raise up to one billion dollars in an effort to streamline its businesses and...

Byjus has begun selling its group assets as it puts Epic and Great Learning on the block to generate $800 million-$1 billion in cash.

(This story has not been edited by THE WEEK and is auto-generated from a PTI

The company plans to repay $300m within three months, and the rest in the subsequent three months.

Byjus had acquired Epic and Great Learning during the peak of 2021 to build its $22 billion empire.