Byjus: Byju is preparing to repay the loan of Rs 9956 crore by selling its foreign ventures, this is the plan
Byjus: Byju's is expected to get $800 million to $1 billion from the sale of US-based children's education firm Epic and upskilling firm Great Learning. The source said the firm is also exploring the possibility of raising fresh capital from equity sale and is working with bankers for the sale of the above key assets to strategic investors.
Bhavika Nandwana
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Ed-tech giant Byju's is considering repaying its entire $1.2 billion (Rs 9,956 crore) loan to lenders by selling its overseas ventures Epic and Great Learning. Ed-tech Dekacorn is in discussions with lenders and has offered to clear its Term B loan, a source with knowledge of the matter said.
Byju's is expected to get $800 million to $1 billion from the sale of US-based children's education firm Epic and upskilling firm Great Learning.
The source said the firm is also exploring the possibility of raising fresh capital from equity sale and is working with bankers for the sale of the above key assets to strategic investors. However, an email sent to the ed-tech platform for comment did not elicit any response.
India's most valuable startup is expecting to repay its entire USD 1.2 billion Term Loan B (TLB) in less than six months. Out of this, it is proposed to pay $300 million in the next three months. However, lenders have not yet responded to this proposal.
