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In a recent development, BYJU’S, the prominent edtech decacorn, has come under the radar of the Enforcement Directorate (ED) due to alleged Foreign Exchange Management Act (FEMA) violations.
Hello, happy hump day, but maybe not for Byjus. Peak XV Partners, formerly Sequoia India, has told its investors that it will have to significantly mark down the value of its holding in Byjus as it was in the dark about the companys finances. This and more in todays ETtech Morning Dispatch.
BlackRock, which holds less than 1 percent, has pegged the value of its 2,279 shares in the company at $4,043,471, effectively estimating Byju's fair value at $8.4 billion as of March 31, 2023.
Baron Capital holds about 0.7 percent stake in Swiggy and its fair value estimate implies a $7.3 billion valuation for the foodtech unicorn.