Byju’s Parent Company TLPL Plans USD 200 Million Rights Issue For Operational Sustainability | Image: Byju’s (Representative)
Think and Learn Private Limited (TLPL), the parent company of Byju’s, on Monday announced to raise USD 200 million by way of a rights issue to all its equity shareholders, in its bid to achieve operational sustainability.
The proposed rights issuance aims to fund the ongoing capital expenditure and support general corporate purposes, the company said in a statement. As the largest shareholders, the founders of BYJU’S have invested more than USD 1.1 billion in the last 18 months.
In a note addressed to shareholders, the founders expressed the challenges the company has faced in recent months and their unflinchi…
Read the full article at: https://www.freepressjournal.in/business/byjus-parent-company-tlpl-plans-usd-200-million-rights-issue-for-operational-sustainability