Business

9 months ago

Byju's promoters re-invested entire amount raised through secondary share sale

Byjus(file Image)
Byjus(file Image)

 

July 06,2023 : Byju's promoters, Byju Raveendran, Divya Gokulnath, and Riju Ravindran, have re-invested the entire amount raised through a secondary share sale in the company. The secondary share sale was worth Rs 4,000 crore, and the promoters used the proceeds to buyback shares from investors. The promoters' decision to re-invest the entire amount raised through the secondary share sale is a sign of their confidence in the company's future prospects. It also shows that they are committed to the long-term growth of the company.

Byju's is one of the leading edtech companies in India, and it has been growing rapidly in recent years. The company's revenue grew by 54% in FY22, and it is expected to continue to grow at a healthy pace in the coming years.

The company's growth is being driven by a number of factors, including the increasing demand for online education, the company's strong brand, and its innovative product offerings. Byju's has a wide range of products, including live online classes, video-based courses, and interactive learning apps.

The company's re-investment of the entire amount raised through the secondary share sale is a positive development for Byju's. It shows that the promoters are confident in the company's future prospects, and it will help the company to continue to grow in the coming years.

Here are some of the key takeaways from this development:

  • The promoters' decision to re-invest the entire amount raised through the secondary share sale is a sign of their confidence in the company's future prospects.
  • The company's re-investment will help to strengthen its balance sheet and support its growth plans.
  • The development is positive for the edtech sector as a whole, as it shows that investors are confident in the growth prospects of the sector.

The outlook for Byju's is positive. The company is well-positioned to benefit from the growth of the edtech sector, and its re-investment of the secondary share sale proceeds will help it to continue to grow in the coming years.

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