Byju's Announces EGM Proceedings Granted Approval by India's Tribunal Court

Quick Summary:

Byju’s secured favorable outcomes in two court hearings Thursday, paving the way for the embattled edtech startup to move ahead with the extraordinary general meeting scheduled for Friday.

The National Company Law Tribunal refused to stay on Thursday Byju’s planned EGM to increase the authorized share capital for the $200 million rights issue.

The rights issue is crucial for Byju’s, once India’s most valuable startup, as it seeks to tap the $200 million it has already received from a set of investors, including Raveendran.

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Article Details

Author / Journalist: Manish Singh

Category: Technology

Markets: United StatesIndia

Topics: Startups Byju Raveendran India Byju's

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-03-28 @ 08:05:48 (1 months ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 156 words

Reading Time: 1 minutes read

Sentences: 5 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 20542458

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