byjus rights issue

Byju’s and a group of its investors have been given three days by the National Company Law Tribunal to file written submissions on a plea about the edtech firm’s rights issue. This and more in today’s ETtech Morning Dispatch. Also in the letter:■ All about ‘Startup Mahakumbh’■ ETtech Done Deals■ India’s internet usage NCLT reserves order on Byju’s investors’ pleaThe National Company Law Tribunal (NCLT) on Tuesday provided three days to Byju’s and a group of its investors to file written submissions and reserved its orders…

Days ahead of a decisive extraordinary general meeting, Byju Raveendran wrote a letter to shareholders informing them that the edtech firm’s rights issue has been fully subscribed. Details of this and more in today’s ETtech Top 5.Also in this letter:■ BluSmart, Tata Power ink charging deal■ Cert-In probing EPFO, PMO data breach■ ETtech Explainer on Google’s Gemini 1.5Rights issue fully subscribed, will restructure board: Byju Raveendran Byju’s $200 million rights issue is fully subscribed, its founder informed…

is fully subscribed. He also iterated further steps he is taking to ensure transparency on the usage of the funds.Dear Shareholders,I am reaching out today to take you into confidence on certain pivotal steps towards a brighter future for our company. My deep sense of commitment is bolstered by your support as we embark on this new and exciting journey together.Our rights issue is fully subscribed and my gratitude to my shareholders remains strong. But my benchmark of success is the participation of all shareholders in…

Top management of beleaguered edtech company Byju's on Friday told employees that the company has received commitments for more than 100% of the proposed amount of rights issue.It also accused "certain investors" of conspiring against the company. The note comes a day after six investors in Think and Learn Private Limited, which operates Byju's brand, called for an extraordinary general meeting to address issues at the edtech major and oust founders from having control over the firm.Elevate Your Tech Prowess with…