iconiifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Byju's looking to raise over $500 million

5 Sept 2022 , 11:56 AM

Byju's, a prominent player in edtech, is expected to raise more than $500 million (about Rs 3,900 crore) at a $23 billion value, in approximately a week, according to persons familiar with the situation.

The corporation intends to utilize the funds for US acquisitions, they continued. According to the sources, the business is in talks for funding between $400 and $500 million and $250 to 350 million, respectively, with the Sovereign Wealth Funds (SWF) of Abu Dhabi and the Qatar Investment Authority (QIA).

"With a few investors, Byju's is at an advanced level of conversation. Within a week, the business should raise more than $500 million. The deal is anticipated to conclude at a value of about $23 billion "One of the individuals, who wished to remain anonymous, told PTI.

Byju's chose not to comment on the situation. The money is part of the company's strategy, according to the source, to use the capital for inorganic development, particularly in the US.

The business has previously paid $500 million for the US-based reading platform Epic and $200 million for the online learning platform Tynker. Other foreign purchases made by Byju include the math operator GeoGebdra in Austria for around $100 million and Singapore's Great Learning for about $200 million.

According to information obtained, Byju's and the US-based edtech company 2U are in active communication. 2U operates platforms like edX, which provide online courses developed by Harvard University, Massachusetts Institute of Technology (MIT), Boston University, etc.

The edtech company was also considering buying Chegg. But a corporate insider claims that there isn't currently a conversation going on with Chegg. As part of the $800 million round of fundraising announced in March at a valuation of $22 billion, the Byju's is still waiting to get a $250 million commitment from Sumeru Ventures and Oxshott.

According to the sources, the corporation has maintained its pace, and inorganic development, particularly that of Aakash and Great Learning, has been supporting its consolidated operations.

"At Byju's Great Learning, the number of international students increased by more than 200 percent in 2021. Great Learning attained its $100 million revenue run rate in the fiscal year (FY) 2021. "The company reported recorded sales of Rs 325 crores at the end of FY20, up over 150% from FY19. The company's user base expanded ten-fold in FY21, they added.

The average renewal or retention rate for Byju's, which claims to have 7.5 million paying clients on its platform and is present in 120 countries, is 86% annually.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • business
  • byjus
  • Company
  • India
  • news
  • Top News
  • valuation
sidebar mobile

BLOGS AND PERSONAL FINANCE

Images
29 Mar 2024   |   10:14 AM
Images
28 Mar 2024   |   03:36 PM
Images
28 Mar 2024   |   03:01 PM
Images
28 Mar 2024   |   01:21 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.