Stay updated with breaking news from Learn Pvt. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Indian edtech titan Byju's has made a surprise repayment proposal to lenders, in which the firm has offered to pay back its entire $1.2 billion term loan in less than six months, according to people familiar with the situation.
The company is offering to repay $300 million of the distressed debt within three months
Byjus and New York-based investor Davidson Kempner Capital have begun negotiations to settle their dispute over the breach of a loan covenant linked to the Indian edtech companys test preparation subsidiary, Aakash Institute.
(Bloomberg) -- In late April, Indian officials in plainclothes raided the Bengaluru offices of Byju’s, seizing laptops and publicly linking the world’s most valuable education-technology startup with possible foreign exchange violations.Most Read from BloombergChina Replaces Foreign Minister After Mysterious Absence‘We Were Wrong’: Morgan Stanley’s Wilson Offers Stocks Mea CulpaTwitter Turning Into X Set to Kill Billions in Brand ValueRolex, Patek Prices to Keep Falling as Supplies Remain High,
Byju Raveendran, founder and CEO of education-technology start-up Byju's, has been in crisis mode since his company was raided in late April.