Page 16 - Byju's

Ranjan Pai invests $168 mn in Byju's Aakash to clear Davidson Kempner debt

Industry sources said that Pai of Manipal Group paid out Davidson Kempner in a bilateral debt transaction

Ranjan Pai buys out Byju's Rs 1,400 cr debt with Davidson Kempner

Manipal Education and Medical Group Chairman Ranjan Pai has also secured a seat on Byju's subsidiary, Aakash

Byju's lenders win fight over $1.2 billion loan default, control of unit

Lenders have been pushing hard for the repayment of the $1.2 billion loan amid the company's mounting distress after a pandemic-era boom in online learning fizzled out

Byju's in talks with 3-4 strategic buyers to sell Epic for $450 million

Byju's and its term loan B lenders then decided to postpone the ongoing disagreement in the US courts and achieve an out-of-court resolution

Byju's CFO Ajay Goel returns to Vedanta Ltd to oversee restructuring

The development comes at a time when the firm was to present its audited financials for FY22 in the second week of October

Byju's core business sees 2.3x revenue growth, Rs 2,253 cr net loss in FY22

The financials revealed by Byju's are based on an 'unqualified FY22 audit'; it will file the financials with MCA in the next few weeks, according to the sources

Core business loss at edtech giant Byju's may only be tip of iceberg

The financials announced by Byju's are based on an 'unqualified FY22 audit' that indicates the auditor is satisfied with the company's financial reporting

Byju's in talks to sell US unit Epic for $400 mn to ease financial pressure

Byju's and its creditors are locked in conflict over a missed interest payment on a term loan that the startup had taken out to help finance a global acquisition spree during the pandemic

Will soon begin audit process for FY23: Byju's CEO Raveendran tells staff

Byju's parent firm Think and Learn reported 2.3 times growth in its core business to reach a total income of Rs 3,569 cr for FY2021-22, and a loss of Rs 2,253 cr y-o-y

Byju's FY22 result: Revenue doubles, operating loss falls 6% to Rs 2,400 cr

Byju's result is only for its core business, and does not include its multi-billion dollar acquisitions

Byju's CFO quits, rejoins Anil Agarwal's Vedanta to oversee restructuring

Ajay Goel will be returning to Vedanta, which he had quit in April, in time to help with splitting the metals firm into six listed companies, they said

Weekend Bites: More trouble in IT paradise, RBI's plans, and taxing expats

In which we munch over the week's platter of news and views

Manipal Group chairman Ranjan Pai in talks to invest $350 mn in Byju's

The capital from Pai is expected to help Byju's release the pledge on shares of Aakash, which were offered as collateral for the Davidson Kempner loan

TMS Ep545: Aakash & Byju's, cricket in Olympics, auto stocks, civil union

Can Aakash save Byju's? What does inclusion of cricket in the Olympics mean? How to play the auto theme this festive season? What is a civil union? All answers here

Will file much-delayed March 2022 financial results this week, says Byju's

Byju's, which has missed payment on a $1.2 billion term loan, said it's completed a long-awaited audit of all group units. Parent Think & Learn Pvt Ltd

Manipal Hospitals's Pai offers Rs 300 crore loan facility to Byju's parent

A source told Mint that Pai's total investment in the group might reach $300 million if the deal is finalised

Byju's creditors onboard Kroll to 'safeguard' Great Learning assets

Charged assets are used as collateral to secure a loan, allowing the lender to seize them if the borrower defaults

TMS Ep536: Sports performance, Byju's media gag, hotel stocks, quantum dots

What's behind India's best ever Asian Games showing? Are policies like Byju's media gag enforceable? Will World Cup serve more gains for hotel, restaurant stocks? What are quantum dots? Answers here

Edtech firm Byju's targets to reach break-even by March, hive off Epic

Edtech major BYJU'S has set the target to become profitable by March 2024 on account of consolidation and restructuring of the organisation and settlement on USD 1.2 billion loan, sources aware of the development said. The company has undertaken exercise to reduce workforce by about 3,000-3,500 this month by ending duplication in roles across the organisation. "Think and Learn Private Ltd (TLPL) restructuring will see the current operations spread across several business units streamlined into four core areas of K-12, test prep, online and hybrid. The business restructuring, aimed at matching resources with cash flows, will see the company achieve break-even by coming March, in fourth quarter of current fiscal," a source said. BYJU'S declined to comment on a query sent in this regard. TLPL operates under BYJU's brand name. BYJU'S had earlier set the target to become profitable by March 2023. BYJU'S booked a loss of Rs 4,588 crore for fiscal year ended March 31, 2021, 19 times more

Byju's to present FY22 financials at board meet amid investor concerns

The edtech firm is yet to file its FY22 results with Registrars of Companies and this delay has been a key concern among investors as well as the lenders