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BYJUS , the prominent edtech company , is reportedly in advanced negotiations to divest its asset, Epic, a...

The embattled start-up has been looking since September to sell both Epic and Great Learning — a higher education and upskilling firm — to raise $1 billion to clear a $1.2 billion term loan

Byju's is in talks with three-four strategic buyers, including Joffre Capital Ltd and language learning platform Duolingo, to sell one of its key assets, US-based digital reading platform Epic, for about $400-$450 million, according to sources. With this, the beleaguered edtech firm wants to meet various commitments, including repaying its entire $1.2 billion term loan B (TLB) within six months. 'The binding offers of the bidders to acquire Epic are expected to come in the next few weeks after the due diligence is complete,' said a person familiar with the matter.

Byju's is in advanced talks to sell its US-based kids' digital reading platform Epic! Creations for about $400 million to PE fund Joffre Capital.

FSN E-Commerce, the parent entity of omnichannel beauty and fashion retailer Nykaa, saw its Q2 profit jump 50%. Cash-strapped Dunzo also disclosed its FY23 financials today. This and more in todays ETtech Top 5.