Investors of Byju’s parent Think & Learn, led by Prosus, had moved NCLT seeking a stay on the planned EGM and block the rights issue.
Elevate Your Tech Prowess with High-Value Skill Courses
| Offering College | Course | Website |
|---|---|---|
| MIT | MIT Technology Leadership and Innovation | Visit |
| IIM Lucknow | IIML Executive Programme in FinTech, Banking & Applied Risk Management | Visit |
| Indian School of Business | ISB Professional Certificate in Product Management | Visit |
The tribunal, during Thursday’s hearing, said it won’t put a stay on the EGM and the matter will be heard next on April 4. The tribunal also directed Byju’s to share all the relevant information sought by investors linked to the company financials including the rights issue.
Byju’s has said its $200 million rights issue –at a 99% discount to its peak valuation of $22 billion–has been fully subscribed. A group of investors have locked horns with the company over the fundraise and are seeking the removal of company founder Byju Raveendran as CEO along with a change in board. Raveendran’s wife and cofounder Divya Gokulnath and his brother Riju Ravindran are the other members of Think & Learn’s board.
Discover the stories of your interest
