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Byju's promoters Byju Raveendran, Divya Gokulnath and Riju Ravindran, have together sold shares worth about $408.53 million in 40 secondary transactions since 2015, according to research and data platform PrivateCircle, cited by media reports.
Since 2015, Byju Raveendran has individually sold 29,306 shares, resulting in proceeds of $3.28 million. Divya Gokulnath has sold 64,565 shares, totalling $29.40 million, while Riju Ravindran has sold 3,37,911 shares, generating $375.83 million.
The shareholding of promoters of the edtech company has been on a gradual decline since 2016, findings show.
Edtech major BYJU'S on Tuesday said its promoters have re-invested the entire amount raised by them through secondary sale of shares in the company.
According to private market intelligence firm PrivateCircle Research, BYJU's promoters -- Byju Raveendran, Divya Gokulnath and Riju Ravindran -- have together sold shares worth around USD 408.53 million in 40 secondary transactions since 2015.