Byjus

Seeking to oust Byju's founder and his family from the edtech firm’s board, a group of investors will hold an extraordinary general meeting today. However, founder Byju Raveendran and his family said they will not attend the meeting. This and more in today’s ETtech Morning Dispatch.Also in this letter:■ RBI’s plans to revolutionise credit system■ Space industry cheers revised FDI rules■ Uber signs MoU with ONDC Face-off likely at EGM over plan to oust Byju’s CEO Dubbing the EGM scheduled by Byju’s investors today…

Byju’s on Thursday said its founder Byju Raveendran, his wife and cofounder Divya Gokulnath, and his brother Riju Ravindran will not attend the extraordinary general meeting (EGM) called by a group of investors seeking removal of Raveendran as CEO and change of board.The three are the only board members at Think & Learn – parent of Byju’s.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIndian School of…

Shareholders at Byju's are set to vote on Friday on a resolution brought by some investors to oust founder CEO Byju Raveendran and his family members over alleged "mismanagement and failures" at what was once India's hottest tech startup. However, the outcome of the vote at the extraordinary general meeting (EGM) will not be applicable until March 13, when the Karnataka High Court will next hear Raveendran's plea challenging the move by certain investors. The Karnataka High Court on Wednesday refused to stay the EGM,…

Byju’s got a much-needed breather after the Karnataka High Court said any resolutions proposed at an EGM called by a set of investors would be invalid. Details on this and more in today’s Morning Dispatch.Also in this letter:■ Interview with Accel partner Arun Mathew ■ Fintechs await govt word on MDR subsidy■ PhonePe launches Indus Appstore Byju’s secures stay on EGM resolutions from Karnataka HC Byju's parent Think & Learn has filed a petition in the Karnataka High Court against a group of investors alleging that…

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…

Think & Learn Pvt Ltd, the parent of Byju's, said on Wednesday that the Karnataka High Court passed an interim order directing that any resolutions passed at Friday’s proposed extraordinary general meeting (EGM) would be contingent upon its final decision on a petition filed by the edtech firm.Byju's petitioned the court challenging the EGM called by a group of investors, who are seeking the removal of Byju Raveendran as its chief executive. The company claimed that by calling for an EGM, the investors violated the…

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…

Ahead of the Friday extraordinary general meeting (EGM), founder and CEO Byju Raveendran wrote to shareholders, informing them that the $200 million rights issue is fully subscribed. He also iterated further steps he is taking to ensure transparency on the usage of the funds.Read the full text of Byju's email to employees:Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Professional Certificate in Product…

Byju’s says its recently launched $200 million rights issue has been fully-subscribed, but the startup’s founder urged some of its major investors to participate amid a rift between the edtech group and some of its largest shareholders. The Bengaluru-headquartered startup, valued at $22 billion in its last financing round in early 2022, announced last month that it would attempt to raise about $200 million through a rights issue. Byju’s cut the pre-money valuation ask in the rights issue to…

Ahead of the Friday extraordinary general meeting (EGM), where a group of investors is seeking to remove Byju Raveendran as CEO of Byju’s and change the board, the founder informed shareholders that the $200 million rights issue is fully subscribed. He is taking further steps to ensure transparency on the usage of the funds.“In order to increase shareholder representation, I commit to restructuring the Board and appointing two non-executive directors to the Board by the mutual consent of the founder and shareholders;…