India’s BYJU’S Raises Rs 908.9 Cr from DST Global

India’s BYJU’S Raises Rs 908.9 Cr from DST Global

Edtech startup BYJU’S is raising about Rs 909 crore in funding from billionaire Yuri Milner-led DST Global, according to regulatory documents.

According to documents filed with the Corporate Affairs Ministry by BYJU’S, which is operated by Think and Learn Pvt Ltd, 20,622 shares will be offered to DSTG VII Investments-2-IN Ltd, 17,777 shares to DST Asia VII, and 4,267 shares to DSTG VI Investments-A-IN Ltd.

“…the company proposes to offer and issue 42,666 Series F compulsorily convertible cumulative preference shares (Series F CCCPS)…for a total consideration of Rs 908,96,55,520 to DST Asia VII, DSTG VI Investments-A-IN Ltd and DSTG VII Investments-2-IN Ltd…” it added.

The company will use funds to meet the working capital requirements and business expansion plans, the document said. Post-issue shareholding of DST will be 1.2 percent.

Emails sent to BYJU’S did not elicit a response.

South Africa Today


Read more at VolaNews