Page 47 - Great Learning News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Byju's, India's 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 firm's 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 Byju's amendment proposal, said the people familiar with the development. 'This loan repayment proposal has been submitte...

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?

Byju's, 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