byjus salary delay

The senior management of cash-strapped edtech firm Byju’s told employees that the company has secured commitments to subscribe to more than 100% of its proposed $200 million rights issue of shares.In an email note to employees Friday, the management blamed an “artificially induced crisis” by a select group of investors for a delay in paying the January salary. The salary will be paid in a phased manner starting Friday and will be completed by Monday, it said.Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

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…