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Deepti Sri · · 1 min readByju’s fast-tracks IPO plans, eyes $50b valuation
“India’s most valuable startup, the online education provider Byju’s, is in talks to raise between US$400 million to US$600 million and then accelerate plans for an initial public offering (IPO) next year,” Bloomberg reported, citing people familiar with the matter.
Details:
- The fundraise is expected to be an even split of equity and debt. The edtech platform may reach a valuation of about US$21 billion at the close of the pre-IPO raise.
- Currently, Byju’s is in talks with banks like Morgan Stanley, Citigroup, and JPMorgan Chase to file its initial listing documents as early as the second quarter of next year, sources told Bloomberg. The company is reportedly eyeing a valuation of US$40 billion to US$50 billion in its stock market debut.
Dive deeper
- Byju’s has been growing its suite of offerings rapidly over the past year by acquiring a slew of edtech firms, including Gradeup, Aakash Educational Services, and Scholr. The e-learning provider has also spent a total of US$750 million on its acquisitions of Singapore-based Great Learning and India’s Toppr.
- In June, Byju’s raised US$50 million from two new investors: India Infoline Finance Limited and Maitri Edtech, taking its fundraising tally this year to US$1.5 billion.
Editing by Collin Furtado and Arpit Nayak
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