Sources said the leadership team has conveyed to investors its plans to put in place a transparent mechanism to monitor the end-use of funds raised through its ongoing rights issue.
Byju's is learnt to have received a commitment of $300 million from investors so far for the rights issue, which will close by the end of February. The issue was floated at January-end to raise $200 million at an enterprise valuation in the range of $220-250 million, a 99% reduction in its peak valuation of $22 billion.
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