The education provider is asking for more than $100 million from existing investors through a fresh issuance of shares slated for next month, at a price that values the firm at less than $2 billion, people familiar with the matter said. That's down from $22 billion at its previous round in late 2022.
Founder Byju Raveendran will participate in the share sale to retain his stake in the company, the people said, asking not to be named as the information isn't public.
The company, which has been battling a cash crunch for several months, will use the proceeds from the share sale slated for next month to pay off vendors and stabilise the business, they said.
A spokesperson for the company declined to comment.
Raveendran has been pulling all stops in his fight to keep the company afloat and to ease its financial pressures.
この記事は Financial Express Mumbai の January 24, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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この記事は Financial Express Mumbai の January 24, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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