Key Points
accounts soon, founder and group CEO Byju Raveendran told senior executives in a meeting on Tuesday...
"The first challenge is the litigation surrounding term loan B (TLB) which stems from a delayed audit and demand for a full refund from TLB lenders...
That sale will also help manage the liquidity crunch the company is facing now," Raveendran is learnt to have said.. Byju's is trying to raise $400 million through the sale of Epic..
The startup, whose valuation dropped to under $3 billion in latest markdown by investor Prosus from $22 billion at peak, reported Ebitda losses of Rs 2,253 crore for core business in FY22 and laid off over 5,000 employees since October last year in its attempt to cut costs..
In the meeting on Tuesday, the firm's India CEO Arjun Mohan briefed the members about the its plans to offer more options across price points and product range to potential customers..
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