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Byju's floated a rights issue in January to raise $200 million at an enterprise valuation in the range of $220-250 million which is a 99 percent reduction in its peak valuation of $22 billion
The EGM scheduled for March 29 will include a vote on increasing Byju's' authorised share capital which will give effect to the rights issue floated by the company to raise funds to tide over its massive liquidity crisis
The tribunal has directed the parties to file written submissions of their contentions in three day and has also issued notice to Ministry of Corporate Affairs (MCA) and Registrar of Companies (ROC).
The tribunal has directed the parties to file written submissions of their contentions in three day and has also issued notice to Ministry of Corporate Affairs (MCA) and Registrar of Companies (ROC).
On Friday, a group of investors unanimously voted to oust Raveendran as the CEO of Byju's and revamp the board, which includes wife and cofounder Divya Gokulnath and brother Riju Ravindran.