Shareholders ask Byju Raveendran to step down
10 months, 3 weeks ago

Shareholders ask Byju Raveendran to step down

Live Mint  

Mumbai: Several large shareholders of Think and Learn Pvt. Ltd., the parent entity of edtech startup Byju’s, have called for a change in the company’s management, including the removal of co-founder and chief executive Byju Raveendran, people aware of the development told Mint. General Atlantic, Prosus Ventures, Peak XV and Chan Zuckerberg Initiative, among others, signed a notice on Thursday calling for an extraordinary general meeting to also propose a reconstitution of the beleaguered company’s board. Investors said that the EGM notice followed several months of attempts to engage with the company’s management to resolve ongoing issues related to corporate governance, mismanagement, and compliance. The notice for the EGM follows a rights issue that the company launched last week to raise $200 million from its existing shareholders, valuing the firm at a post money valuation of $225-250 million.

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History of this topic

Byju's under scrutiny again: Government launches new investigation into finances
4 weeks ago

Byju's under scrutiny again: Government launches new investigation into finances

India Today  

The government has launched a fresh investigation into the financial and accounting practices of Byju’s, the troubled edtech giant. The new investigation comes after a previous review by the Ministry of Corporate Affairs highlighted lapses in corporate governance at the company, according to sources familiar with the matter, reported Bloomberg. NEW INVESTIGATION DETAILS The Registrar of Companies’ regional office in …

Byju Raveendran accused of trying to regain firm with hidden cash: Report
1 month ago

Byju Raveendran accused of trying to regain firm with hidden cash: Report

Hindustan Times  

Byju Raveendran, the founder of the struggling edu-tech company Byju’s, allegedly tried to use loan money he hid from US lenders to secretly buy back a software company that an American trustee took over. According to a Bloomberg report based on new court filings, this was an attempt by Byju Raveendran to regain control of his collapsing startup, which is …

Indian startup Byju's nears settlement in cricket board dispute, sources say
4 months, 3 weeks ago

Indian startup Byju's nears settlement in cricket board dispute, sources say

Hindustan Times  

By Juveria Tabassum and Aditya Kalra Indian startup Byju's nears settlement in cricket board dispute, sources say NEW DELHI, - Education technology company Byju's is close to settling a $19 million payments dispute with the Indian cricket board, which could free the business from an insolvency process that has frozen the assets of what was once India's biggest startup, said …

Byju's journey from startup star to facing insolvency: All you need to Know
5 months, 1 week ago

Byju's journey from startup star to facing insolvency: All you need to Know

Business Standard  

The Indian cricket board last year asked a tribunal to initiate insolvency proceedings against Byju's for defaulting on $19 million of dues. Indian edtech company Byju's was staring at insolvency proceedings on Tuesday following a tribunal order, deepening a crisis that has seen the one-time market darling's valuation plunge from about $22 billion to less than $2 billion. Byju's has …

NCLT halts Byju’s second rights issue, freezes funds pending litigation
6 months, 1 week ago

NCLT halts Byju’s second rights issue, freezes funds pending litigation

Live Mint  

Mumbai: The Bengaluru bench of the National Company Law Tribunal has restrained Byju’s from using the proceeds from its second rights issue, and instead, directed the ailing edtech firm to park the funds in a separate account till the disposal of the main petition. Byju's second rights issue, which began on 13 May and scheduled to conclude on 13 June, …

Why Has HSBC Cut Byju's Valuation To Zero? Understanding Edtech Giant's Crisis
6 months, 2 weeks ago

Why Has HSBC Cut Byju's Valuation To Zero? Understanding Edtech Giant's Crisis

News 18  

In a significant move, financial services giant HSBC has slashed the valuation of edtech company Byju’s to zero, as compared with the company’s valuation of $22 billion in 2022. “We assign zero value to Byju’s stake amid multiple legal cases and funding crunch,” according to the HSBC note. Forbes noted, “Only four people from last year’s list dropped off this …

NCLT defers Byju’s case hearing to Jun 6
8 months ago

NCLT defers Byju’s case hearing to Jun 6

New Indian Express  

BENGALURU: The Bengaluru bench of the National Company Law Tribunal has deferred the hearing of the ongoing case between edtech firm Byju’s and the four investors to June 6. Byju’s four investors including Peak XV Partners and General Atlantic had filed the oppression and mismanagement plea against the firm and they accused the edtech company of using some of the …

Byju’s faces allegations of violating NCLT orders on rights issue; company denies
8 months ago

Byju’s faces allegations of violating NCLT orders on rights issue; company denies

Hindustan Times  

Four investors in beleaguered edtech company Byju’s, namely, Peak XV Partners, General Atlantic, Chan-Zuckerberg Initiative and Prosus, have alleged that the company has ended up using the proceeds from its most recent rights issue and that this was against an order of the National Company Law Tribunal. Byju’s is facing a string of accusations from its investors over a rights …

Byju's announces rejig of business; founder Raveendran to take over firm's daily operations
8 months, 1 week ago

Byju's announces rejig of business; founder Raveendran to take over firm's daily operations

The Hindu  

Byju Raveendran, the founder of the edtech company Think and Learn, which owns the Byju's brand, will handle the firm's day-to-day operations following the resignation of CEO Arjun Mohan, the company said on April 15. The company has also announced a major rejig of the business that will consolidate its business into three focused divisions - the learning App, online …

Byju’s breached $42 million loan terms, small stake sale blocked: Report
8 months, 2 weeks ago

Byju’s breached $42 million loan terms, small stake sale blocked: Report

Live Mint  

Byju's has been asked by an arbitrator to not sell the shares of a group firm after it breached terms of loans worth $42 million, according to a report by Reuters citing a confidential order. In the latest dispute, Ranjan Pai's MEMG Family Office initiated arbitration proceedings against Byju for allegedly not repaying its loan through a pre-agreed transfer of …

Byju’s seeks arbitration over NCLT trial in dispute with investors
8 months, 2 weeks ago

Byju’s seeks arbitration over NCLT trial in dispute with investors

Live Mint  

Embattled edtech firm Byju's on Thursday filed a plea with the National Company Law Tribunal seeking arbitration in its dispute with some of its key investors. A clutch of investors including General Atlantic, Prosus and Peak XV have alleged that the edtech firm violated the tribunal’s 27 February order, which had directed debt-laden Byju's to not allot shares to investors …

Byju Raveendran's net worth is now zero from 17,545 crore in 2023: What happened?
8 months, 2 weeks ago

Byju Raveendran's net worth is now zero from 17,545 crore in 2023: What happened?

Hindustan Times  

Edtech company Byju's founder Byju Raveendran saw his wealth vanish, as per the latest Forbes Billionaire Index. Previously listed with a net worth of ₹17,545 crore, Byju Raveendran's worth in the 2024 Index shows him at zero amid challenges faced by Byju's which once had a peak valuation of $22 billion. Forbes noted, “Only four people from last year's list …

Byju’s delays salaries; says will pay Mar due on Apr 8
8 months, 3 weeks ago

Byju’s delays salaries; says will pay Mar due on Apr 8

New Indian Express  

BENGALURU: For three months now, cash-strapped edtech firm Byju’s has been struggling to pay salaries to its employees. A few misguided foreign investors in Byju’s have obtained an interim order in late February, which has restricted usage of the funds raised via successful rights issue. This irresponsible action by 4 foreign investors has compelled us to temporarily hold the disbursal …

Explained: From startup star to financial struggle, the rise and fall of Byju's
9 months, 1 week ago

Explained: From startup star to financial struggle, the rise and fall of Byju's

India TV News  

Byju Raveendran, an engineer from Kerala, envisioned revolutionising education systems through his startup venture. The current downturn However, today, Byju's finds itself grappling with severe financial distress, struggling even to pay its employees' salaries. Unraveling the story Founded in 2003, Byju's initially gained traction by aiding friends in cracking the CAT entrance exam. Financial fiasco Reports suggested that Byju's faced …

Setback for Byju's as Australia-based investor slashes valuation by 98%
9 months, 3 weeks ago

Setback for Byju's as Australia-based investor slashes valuation by 98%

Hindustan Times  

Macquarie Capital, an Australia-based global financial services provider, has decided to slash by nearly 100% its valuation of struggling edtech firm Byju's, in which the former invested ‘a few million dollars’ in 2021, Bloomberg has reported quoting people familiar with the matter. This comes after Julius Baer Group Limited, a Swiss private banking group, accused Macquarie of charging clients based …

Byju's CEO Raveendran says can't pay workers' salaries, investors blocked funding
9 months, 3 weeks ago

Byju's CEO Raveendran says can't pay workers' salaries, investors blocked funding

Hindustan Times  

Edtech company Byju's CEO Byju Raveendran, amid the ongoing financial crisis, said the firm will not be able to pay the salaries of the employees, lambasting the investors for moving a resolution to lock the funds of the company in a separate account. Byju's CEO Byju Raveendran slammed investors for blocking the funds of the firm Raveendran, in a letter …

For Byju’s, $200 million is so near yet so far
9 months, 3 weeks ago

For Byju’s, $200 million is so near yet so far

Live Mint  

Mumbai: The National Company Law Tribunal on Wednesday asked edtech company Byju’s to consider extending the closing date of its contentious rights issue beyond 28 February, and directed it to keep the funds untouched. Separately on Wednesday, the court also issued a notice to Byju’s on its lenders’ petition to invoke insolvency to repay around $1.2 billion worth of loans …

Investors accuse Byju's of siphoning $533mn, seek stay on rights issue
9 months, 3 weeks ago

Investors accuse Byju's of siphoning $533mn, seek stay on rights issue

Hindustan Times  

Investors in Byju's on Tuesday alleged that the edtech giant siphoned off USD 533 million in an obscure hedge fund in the US and sought a stay on a USD 200 million rights issue, calling it illegal and contrary to law. Investors challenge Byju's on $533M transfer, seek halt on $200M rights move The company law court asked Byju's to …

Byju’s faces new NCLT case: Oppression, mismanagement suit filed by 4 investors
9 months, 3 weeks ago

Byju’s faces new NCLT case: Oppression, mismanagement suit filed by 4 investors

Live Mint  

Byju’s woes: The National Company Law Tribunal has registered a new plea filed by four investors against Byju’s, the Indian Edtech major. The plea, listed for hearing before a bench of judicial member K Biswal and technical member Manoj Kumar Dubey, was filed by a group of investors, including MIH Edtech Investments B.V, Peak XV Partners Investments IV & V, …

Byju’s shareholders remove CEO Raveendran, company calls vote ‘invalid’
10 months ago

Byju’s shareholders remove CEO Raveendran, company calls vote ‘invalid’

Hindustan Times  

More than 60 per cent of shareholders of edutech Byju's on Friday voted for removal of founder CEO Byju Raveendran and his family over alleged "mismanagement and failures" at what was once India's hottest tech startup, but the company dug in its heels, calling the voting done in the absence of founders as "invalid". Raveendran and his family stayed away …

Why BYJU’S founder Raveendran cannot leave the country
10 months ago

Why BYJU’S founder Raveendran cannot leave the country

Firstpost  

The Enforcement Directorate has upgraded its Lookout Circular against Byju Raveendran — the 43-year-old CEO of the edtech firm bearing his name. Raveendran and his company have faced a string of setbacks including lay-offs, the valuation being slashed by 95 per cent, legal cases by lenders abroad and the BCCI Byju Raveendran in a letter Wednesday called on shareholders to …

ED issues look out notice against Byju Raveendran: Sources
10 months ago

ED issues look out notice against Byju Raveendran: Sources

Deccan Chronicle  

The Directorate of Enforcement has asked the Bureau of Immigration to issue a look out notice against Byju Raveendran, the founder of the in-crisis edtech company Bjyu's, according to sources.The aim is to prevent Raveendran from leaving the country.Reportedly, this development comes ahead of a high-stakes Extraordinary General Meeting scheduled for this Friday, where it was reported that certain investors …

Byju's crisis: Court ruling protects CEO Raveendran from ouster in upcoming shareholder EGM
10 months ago

Byju's crisis: Court ruling protects CEO Raveendran from ouster in upcoming shareholder EGM

Hindustan Times  

Edtech company Byju's CEO and founder Byju Raveendran got major relief during a Karnataka high court hearing, where the bench refused to stay the emergency meeting called by the investors. Byju's on Wednesday said that any calls taken by the investors during the emergency meeting will not be considered valid till the time the court is done with hearing their …

Byju Raveendran gets temporary protection from ouster
10 months ago

Byju Raveendran gets temporary protection from ouster

New Indian Express  

Byju Raveendran, the embattled founder of Byju's education app, has won a temporary reprieve in his tussle with a section of shareholders for control of the company he founded in 2011. Raveendran got interim relief from Karnataka High Court on Wednesday as the Court stayed the effect of decisions that could be taken during the upcoming extraordinary general meeting of …

Byju’s woes shows failure to adjust to post-covid reality
10 months ago

Byju’s woes shows failure to adjust to post-covid reality

New Indian Express  

Troubled edtech firm Byju’s has been thrown a lifeline by disgruntled investors who have so far pledged to contribute $300 million to allow it to continue operations. The rights issue, expected to close by the end of the month, has valued the company at $200-250 million—a meltdown of about 95 percent from Byju’s peak valuation of $22 billion. Byju’s has …

As Byju's CEO Raveendran faces ouster, edutech firm gets ₹2,500 crore push
10 months ago

As Byju's CEO Raveendran faces ouster, edutech firm gets ₹2,500 crore push

Hindustan Times  

Byju's, in the middle of the intense financial crisis and pressure from lenders, got a commitment of $300 million from its investors for the upcoming rights issue, which has slashed the valuation of parent company Think and Learn by over 90 per cent from its peak. Byju's gets $300 million commitment from investors Investors have made a commitment of $300 …

Byju's crisis explained: Why edtech firm, once valued at $22 bn, is witnessing financial downfall
10 months, 3 weeks ago

Byju's crisis explained: Why edtech firm, once valued at $22 bn, is witnessing financial downfall

Hindustan Times  

Ed-tech company Byju's has been grappling with a financial crisis, and in their latest move, the shareholders of the company have moved a resolution seeking the ouster of the founders from top leadership roles, including CEO Byju Raveendran. US-based investment firm Redwood cut a loan of $1.2 billion to Byju's in November 2021, but the ed-tech firm failed to make …

Rights issue caps Byju's wild ride from top startup to throwaway valuation
10 months, 3 weeks ago

Rights issue caps Byju's wild ride from top startup to throwaway valuation

Live Mint  

Online tutor Byju’s has agreed to a post-money valuation of $225 million as it approaches existing investors for $200 million to stay afloat, two people aware of the matter said, a stunning decline from the $22 billion it commanded as the country’s most valued startup just two years ago. “The funds raised will be exclusively utilized to clear immediate liabilities …

Byju’s saviour? Board approves Ranjan Pai’s 40% stake buy in Aakash, says report
10 months, 4 weeks ago

Byju’s saviour? Board approves Ranjan Pai’s 40% stake buy in Aakash, says report

Live Mint  

Byju’s-owned Aakash Institute is set to witness Ranjan Pai, Chairman of the Manipal Education and Medical Group, emerge as its largest shareholder with a 40 percent stake buy, as per an Economic Times report citing sources. Strategic Acquisition Think & Learn, the parent company of Byju’s, acquired Aakash Institute for $950 million in 2021, marking one of the largest acquisitions …

Byju’s likely to slash its valuation by 90% to raise fresh funds
11 months ago

Byju’s likely to slash its valuation by 90% to raise fresh funds

Live Mint  

Byju’s, once counted among the world’s most valuable startups, is seeking to raise funds at a discount of more than 90% from its previous round to alleviate its financial problems. The beleaguered Indian education provider is asking more than $100 million from existing investors through a fresh issuance of shares slated for next month, at a price that values the …

Blackrock marks down Byju's valuation to $1 bn
11 months, 1 week ago

Blackrock marks down Byju's valuation to $1 bn

Deccan Chronicle  

Chennai: The valuation of ed-tech start-up Byju’s has been further marked down to $1 billion by its investor Blackrock. According to disclosures, BlackRock valued Byju’s shares at about $209.6 in October 2023, down from the peak of $4,660 in 2022 – down by 95.5 per cent. While Prosus holds 3 per cent stake in Byju’s, Blackrock has 1 per cent …

BlackRock slashes Byju’s valuation to $1 billion, down 95%, says report
11 months, 1 week ago

BlackRock slashes Byju’s valuation to $1 billion, down 95%, says report

Live Mint  

Asset manager BlackRock has once again reduced its valuation of Indian ed-tech unicorn Byju’s, this time by around 95 percent from $22 billion to $1 billion, as per a Tech Crunch report citing company disclosures. Reversal of Fortune This valuation markdown represents a significant reversal of fortune for Byju’s, once considered the poster child of the Indian start-up ecosystem. Despite …

Vantage | Does Byju's have a plan beyond pledging its CEO's houses?
1 year ago

Vantage | Does Byju's have a plan beyond pledging its CEO's houses?

Firstpost  

Reports say the founder and CEO of Byju’s, Byju Raveendran, has pledged two of his houses. He raised around 400 million dollars from that, and he has also sold some of his stake in Byju’s, which brought in 800 million dollars. And finally, the third legal case, arguably, the most important one, Byju’s owes around 1.2 billion dollars to lenders …

Byju’s targets to be profitable by March 2024, may layoff 3,000-3,500 workforce
1 year, 2 months ago

Byju’s targets to be profitable by March 2024, may layoff 3,000-3,500 workforce

Live Mint  

On account of consolidation and restructuring of the organization and settlement on a $1.2 billion loan, edtech major BYJU'S has set the target to become profitable by March 2024, reported news agency PTI citing sources. "Think and Learn Private Ltd restructuring will see the current operations spread across several business units streamlined into four core areas of K-12, test prep, …

From layoffs to legal hurdles: What's going on at Byju's?
1 year, 5 months ago

From layoffs to legal hurdles: What's going on at Byju's?

India Today  

Edtech giant Byju’s has seen a sharp turnaround in its fortunes since last year, and the success story of India’s most valuable start-up seems to have turned sour, even as its CEO Byju Raveendran remains optimistic about the company’s future. In a virtual town hall held on Thursday, Raveendran assured employees that the “best is yet to come” for Byju’s, …

Prosus slashes Byju’s valuation to $5 billion: Report
1 year, 5 months ago

Prosus slashes Byju’s valuation to $5 billion: Report

Live Mint  

Dutch-listed technology investor Prosus NV has slashed the valuation of Indian edtech startup Byju's to $5.1 billion, according to a TechCrunch report. Prosus had downsized the value of its 9.6 per cent stake in Byju's to around $493 million in the financial year ended March 31, the report added. Byju's is caught in what many see as a governance crisis …

Edtech giant Byju's under inspection for corporate governance lapses: Report
1 year, 6 months ago

Edtech giant Byju's under inspection for corporate governance lapses: Report

India Today  

The Ministry of Corporate Affairs has ordered an inspection of edtech startup Byju's, citing concerns over corporate governance lapses, reported CNBC-TV18. The ministry's move follows recent developments, including Deloitte and three board members severing ties with the company amidst a legal battle with lenders and a decline in valuation. Deloitte, one of the world's largest auditing firms, recently resigned as …

Three board members quit Byju's, Deloitte steps down as auditor: Report
1 year, 6 months ago

Three board members quit Byju's, Deloitte steps down as auditor: Report

Hindustan Times  

Three board members of Indian startup Byju's have quit and Deloitte has stepped down as its auditor, three sources said, key departures amid the edtech company's disagreement with lenders and when an investor has slashed its valuation. Byju's founder Byju Raveendran Peak XV Partners' GV Ravishankar, Prosus' Russell Dreisenstock and Chan Zuckerberg Initiative's Vivian Wu have resigned from the board, …

BYJU’S woes | A timeline tracing why India’s Edutech giant is in trouble at home and abroad
1 year, 6 months ago

BYJU’S woes | A timeline tracing why India’s Edutech giant is in trouble at home and abroad

The Hindu  

The financial woes of India’s most successful edutech company Byju’s continue to worsen as it skipped payment of $40 million interest on its $ 1.2-billion loan on June 6. March 2023: Byju’s lenders accelerate loan repayment According to the company’s statement, the group’s lenders in U.S led by investment management firm Redwood accelerated the TLB repayment alleging certain non-monetary and …

Byju's Braces For Crucial Week As Lender Calls Loom Amid Rising Tensions
1 year, 6 months ago

Byju's Braces For Crucial Week As Lender Calls Loom Amid Rising Tensions

News 18  

Byju’s, the world’s highest-valued edtech company, is gearing up for an important week of discussions with its lenders as it seeks to ease growing tensions, people aware of the matter told Moneycontrol. The upcoming discussions hold immense significance for Byju’s, as the company, one of the world’s largest startups, has been in a prolonged dispute with its lenders for over …

Byju's ED Raid: CEO Byju Raveendran Says Company In Compliance, Brought More FDI Than Any Other Startup
1 year, 7 months ago

Byju's ED Raid: CEO Byju Raveendran Says Company In Compliance, Brought More FDI Than Any Other Startup

News 18  

After financial crime-fighting agency ED searched Byju’s premises, the education platform’s CEO Byju Raveendran wrote to employees saying the company brought more FDI to India than any other startup and that the firm fully complies with all applicable foreign exchange laws. “As we are funded by 70+ impact investors who have satisfactorily done due diligence on our operations, including all …

Byju’s brought more FDI to India than other startups, company in compliance with laws: CEO after ED raid
1 year, 7 months ago

Byju’s brought more FDI to India than other startups, company in compliance with laws: CEO after ED raid

The Hindu  

After financial crime-fighting agency ED searched Byju's premises, the education platform's CEO Raveendran Byju wrote to employees saying the company brought more FDI to India than any other startup and that the firm fully complies with all applicable foreign exchange laws. "As we are funded by 70+ impact investors who have satisfactorily done due diligence on our operations, including all …

ED seizes ’incriminating data’ of Byju’s over alleged forex law violations
1 year, 7 months ago

ED seizes ’incriminating data’ of Byju’s over alleged forex law violations

Live Mint  

According to a statement made earlier today by the Directorate of Enforcement, three Bengaluru premises related to the education platform Byju and its billionaire CEO Byju Raveendran have undergone searches and seizures for possible violations of the nation's foreign exchange rules. The searches under alleged foreign exchange law violations revealed that Think and Learn Private Limited, Byju's parent firm, had …

Byju's Lenders Want $200 Million Prepayment Over Restructuring $1.2-Billion Loan : Report
1 year, 8 months ago

Byju's Lenders Want $200 Million Prepayment Over Restructuring $1.2-Billion Loan : Report

ABP News  

Lenders of the ed-tech firm Byju's are asking for up to $200 million in prepayment for the restructuring of a $1.2 billion loan, according to a report by the Economic Times. The report says the world's most valuable ed-tech start-up Byju's has borrowed money from various lenders, including a number of US-based hedge funds. According to the report, Byju's currently …

Byju’s in funding talks with TPG, sovereign funds as debt weighs
1 year, 10 months ago

Byju’s in funding talks with TPG, sovereign funds as debt weighs

Live Mint  

Byju’s is in negotiations with investors including TPG to raise more than $500 million, a much-needed capital infusion that could help the world’s most valuable edtech startup stave off potential debt issues. Several investment firms including TPG and two Middle Eastern sovereign wealth funds have begun due diligence on the Indian company, which is hoping to keep its valuation steady …

Early backers in talks to sell stakes in Byju's
1 year, 11 months ago

Early backers in talks to sell stakes in Byju's

Live Mint  

Byju’s early investors, including Lightspeed Investment Partners and Chan Zuckerberg, are seeking buyers for their partial or full stakes in the edtech company as they look to book profit, four people with direct knowledge of the talks said. This means that even if selling investors found buyers for their stakes at a particular valuation, founder Raveendran would hold the right …

Byju’s founder Raveendran raising funds to raise his stake in firm
1 year, 11 months ago

Byju’s founder Raveendran raising funds to raise his stake in firm

Live Mint  

Byju Raveendran, the founder of the world’s most valuable edtech startup Byju’s, is in financing talks to lift his stake in the company to as high as 40%, people familiar with the matter said. Byju’s was valued at $22 billion the last time it raised funds, though the buyback may happen at a lower valuation, the people said, asking not …

Byju’s to stop selling tuition to lower-income families, start ‘affordability checks’: report
2 years ago

Byju’s to stop selling tuition to lower-income families, start ‘affordability checks’: report

The Hindu  

Education technology giant Bjyu's has said it will stop selling tuition to poorer families who may struggle to afford it, according to India's child rights body, which summoned the company's CEO on Friday to answer over a Context investigation. Mr. Prakash said the company would start carrying out "affordability checks" to ensure it did not sell its courses or offer …

Byju’s finalising plans for ₹8,000 crore IPO of Aakash Educational Services
2 years, 1 month ago

Byju’s finalising plans for ₹8,000 crore IPO of Aakash Educational Services

Live Mint  

India’s most valuable startup, online-education giant Byju’s, is finalizing plans for a $1 billion initial public offering of its tutoring business Aakash Educational Services, according to people familiar with the matter. The company is in talks with at least four foreign banks -- JPMorgan Chase & Co., Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley -- as well as …

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