Powered by: Motilal Oswal

News

PayU sells its GPO biz to Rapyd for $610 mn, sets eyes on India Global investment group Prosus on Tuesday said that Rapyd, a leading Fintech-as-a-Service provider, is acquiring its digital payments business PayU's Global Payments Organisation (GPO) for $610 million in an all-cash deal. The transaction, said the company, will enable PayU to focus on the large payments and fintech opportunity in India, where it is the leading payments provider, serving more than 450,000 merchants and over 2 million credit customers. PayU's GPO business provide...
PayU sells its GPO biz to Rapyd for $610 mn, sets eyes on India
PayU sells its GPO biz to Rapyd for $610 mn, sets eyes on India
Source: IANS
1/08/2023 12:55:50 PM
India`s Byju`s, creditors agree to amend $1.2 billion loan terms India's Byju's and its lenders, who own more than 85% of the edtech startup's $1.2 billion term loan, have agreed to work towards amending that loan by Aug. 3, the steering committee of the creditors group said on Monday. The successful execution of the loan amendment would "immediately" solve for the loan's acceleration and end all open litigation and avoid further enforcement actions, the steering committee said in a statement. The news comes a month after th...
India`s Byju`s, creditors agree to amend $1.2 billion loan terms
India`s Byju`s, creditors agree to amend $1.2 billion loan terms
Source: Reuters
24/07/2023 4:35:44 PM
Mohandas Pai, former SBI chair to join Byju`s advisory council Early Byju's investor Mohandas Pai and former State Bank of India chairman Rajnish Kumar will join an advisory council at the Indian edtech startup, weeks after resignations by its auditor and investor representatives amid governance concerns. The council will mentor Byju's board and its CEO Byju Raveendran on crucial matters, the company said on Thursday. "As part of the advisory council, I look forward to advising the leadership in evolving the systems of governance and f...
Mohandas Pai, former SBI chair to join Byju`s advisory council
Mohandas Pai, former SBI chair to join Byju`s advisory council
Source: Reuters
13/07/2023 6:08:09 PM
India`s Byju`s seeks investors for Aakash Education stake  Indian edtech startup Byju's is looking for potential investors to sell a portion of its stake in unit Aakash Education, ET Now reported on Friday citing sources.
India`s Byju`s seeks investors for Aakash Education stake
India`s Byju`s seeks investors for Aakash Education stake
Source: Reuters
30/06/2023 3:27:26 PM
Factbox-Indian edtech startup Byju`s top acquisitions, investors Byju's troubles have mounted as its auditor Deloitte and three board members cut ties with the Indian education technology startup that was once an investor darling valued at $22 billion. The firm attracted billions of dollars from investors across the globe and went on an acquisition spree during the COVID-19 pandemic that boosted demand for online education services. BYJU'S ACQUISITIONS * Aakash Educational Services - Byju's bought IPO-bound Aakash, which offers coachin...
Factbox-Indian edtech startup Byju`s top acquisitions, investors
Factbox-Indian edtech startup Byju`s top acquisitions, investors
Source: Reuters
23/06/2023 5:24:09 PM
Peak XV to further empower Indian startups: Sequoia's Roelof Botha Sequoia Capital India and Southeast Asia (SEA), now known as Peak XV Partners, will now operate as an independent firm that will provide more flexibility to further strengthen the market leadership position, Sequoia Capital's Managing Partner Roelof Botha said on Wednesday. Sequoia India and SEA is the largest venture capital firm in the region, managing over $9.2 billion across 13 funds. "Sequoia India and SEA have flourished under Shailendra Singh's leadership and we are ...
Peak XV to further empower Indian startups: Sequoia's Roelof Botha
Peak XV to further empower Indian startups: Sequoia's Roelof Botha
Source: IANS
15/06/2023 9:48:05 AM
Byju`s files suit challenging loan acceleration, seeks Redwood`s disqualification Indian education startup Byju's said on Tuesday it filed a suit against investment management firm Redwood to challenge the acceleration of a $1.2 billion term loan B and to disqualify Redwood for its predatory tactics.
Byju`s files suit challenging loan acceleration, seeks Redwood`s disqualification
Byju`s files suit challenging loan acceleration, seeks Redwood`s disqualification
Source: Reuters
6/06/2023 9:12:45 AM
BYJU`S announces upcoming IPO of Aakash Education Services Limited National: BYJU'S, world’s leading edtech company, announces that it will launch the Initial Public Offering (IPO) of its subsidiary, Aakash Education Services Limited (AESL) mid next year. The IPO will mark a milestone in the continued growth and expansion of Aakash + BYJU'S, creating a comprehensive portfolio of products that caters to a broader range of students. The Board of BYJU’S has granted its official sanction for this pivotal undertaking. The appointment of the...
BYJU`S announces upcoming IPO of Aakash Education Services Limited
BYJU`S announces upcoming IPO of Aakash Education Services Limited
Source: PR Agency
5/06/2023 7:55:08 PM
India`s Byju`s to list unit Aakash Education by mid-2024 Indian education startup Byju's on Monday said it will take its educational institute Aakash Education Services public through an initial public offering (IPO) by mid-2024. Aakash, which was acquired for $950 million by Byju's in 2021, had first filed its draft prospectus in July 2018, before scrapping its listing plans. The announcement comes amid a gloomy market for domestic listings. After peaking in 2021, the IPO market has fizzled out due to concerns of companies' valua...
India`s Byju`s to list unit Aakash Education by mid-2024
India`s Byju`s to list unit Aakash Education by mid-2024
Source: Reuters
5/06/2023 3:40:31 PM
Leading Indian startups & unicorns continue to bleed money as party gets over The great Indian startup and unicorn party, which saw record funding volumes in 2020, 2021 and the first half of 2022, appears to be over for now as several top names in the ecosystem continue to bleed money, with no respite in sight in FY23. At least 55 (74 per cent) from 74 unicorns incurred a cumulative operating loss of $5.9 billion in FY22, according to leading startup covering portal Inc42. Of those heavy loss-making unicorns, 14 were from the e-commerce sector, followed by fintec...
Leading Indian startups & unicorns continue to bleed money as party gets over
Leading Indian startups & unicorns continue to bleed money as party gets over
Source: IANS
13/04/2023 12:45:15 PM
BYJU`S hires Ajay Goel as CFO amid myriad of problems Edtech company BYJU'S has appointed Ajay Goel as its chief financial officer (CFO), as it aims to strengthen the company's financial operations and achieve profitability amid myriad of problems. Goel, who has worked with companies like Vedanta, GE, Coca Cola and Nestle, will be responsible for overseeing financial strategy and management for BYJU'S. "With his extensive experience and diverse skill-set, Goel is the ideal candidate to take on the role of Chief Financial O...
BYJU`S hires Ajay Goel as CFO amid myriad of problems
BYJU`S hires Ajay Goel as CFO amid myriad of problems
Source: IANS
4/04/2023 10:03:47 AM
BYJU's set to close $250 mn funding round soon at flat valuation Edtech major BYJU's is in advanced stages to raise $250 million at a flat valuation (at $22 billion the company last announced) as it struggles to repay a $1.2 billion term loan and turn profitable in 2023, reliable sources said on Thursday. Sources told IANS that the latest funding round is in "final stages of discussion and will be closed soon within few weeks". BYJU's declined to immediately comment on the development. However, the $250 million round may also com...
BYJU's set to close $250 mn funding round soon at flat valuation
BYJU's set to close $250 mn funding round soon at flat valuation
Source: IANS
24/03/2023 9:21:52 AM
Key Stock Ideas: Alembic Pharma, Byju`s, Bessemer India Capital, Power Grid Corporation - ARETE Securities Alembic Pharma gets USFDA nod to market generic antidepressant drug: Alembic Pharmaceuticals on Thursday said it has received an approval from the US health regulator to market a generic antidepressant medication in the American market. The company has received an approval from the US Food & Drug Administration to market Brexpiprazole tablets in strengths of 0.25 mg, 0.5 mg, 1 mg, 2 mg, 3 mg and 4 mg, the drug firm said in a statement. The company's product is therapeutically equiv...
Key Stock Ideas: Alembic Pharma, Byju`s, Bessemer India Capital, Power Grid Corporation - ARETE Securities
Key Stock Ideas: Alembic Pharma, Byju`s, Bessemer India Capital, Power Grid Corporation - ARETE Securities
Source: Axis Securities Ltd
10/03/2023 9:29:29 AM
Key Stock News: Carlyle Group , Byju's,, Glenmark Pharma, TCS, Adani Enterprises - ARETE Securities Carlyle Group acquires majority stake in beauty brand VLCC for $300 million Private-equity firm Carlyle Group has acquired a majority stake in Indian beauty care and wellness solutions provider VLCC for around $300 million, two sources told Reuters on Tuesday The equity for the transaction will come from funds managed and advised by entities affiliated with Carlyle Asia Partners, Carlyle said in a statement, without specifying a deal value. Byju's seeks more time from lenders to ...
Key Stock News: Carlyle Group , Byju's,, Glenmark Pharma, TCS, Adani Enterprises - ARETE Securities
Key Stock News: Carlyle Group , Byju's,, Glenmark Pharma, TCS, Adani Enterprises - ARETE Securities
Source: ARETE Securities Ltd
11/01/2023 9:25:19 AM
Key Stock News: Walmart, Google, Shapoorji Pallonji, Byju`s, Vodafone Idea, SREI - ARETE Securities Retail giant Walmart gets $1 billion tax bill for PhonePe shift to India Walmart Inc. and other PhonePe shareholders will have to pay nearly $1 billion in tax after the digital payments company shifted its headquarters to India, according to people familiar with the matter. The bill stems from the relocation and rise in value of PhonePe Pvt, which Walmart took majority ownership of after acquiring parent outfit Flipkart Online Services Pvt. Now separated from Flipkart and re-domiciled from...
Key Stock News: Walmart, Google, Shapoorji Pallonji, Byju`s, Vodafone Idea, SREI - ARETE Securities
Key Stock News: Walmart, Google, Shapoorji Pallonji, Byju`s, Vodafone Idea, SREI - ARETE Securities
Source: ARETE Securities Ltd
5/01/2023 9:19:03 AM
Key Stock News: IIFL fintech , M3M India, Vedanta, Byju's, Glenmark Pharma, Dabur - ARETE Securities IIFL fintech fund picks up 16% in Insurance Samadhan for $2 million The IIFL Group's early-stage investment vehicle, IIFL Fintech Fund, has invested USD 2 million (around Rs 16.5 crore) in insurance technology startup Insurance Samadhan for a 16 per cent stake, valuing the platform at around USD 13 million (around Rs 107 crore). The startup also received another USD 1 million from other investors in the series-A round. This is IIFL fintech fund's 10th investment and first in the...
Key Stock News: IIFL fintech , M3M India, Vedanta, Byju's, Glenmark Pharma, Dabur - ARETE Securities
Key Stock News: IIFL fintech , M3M India, Vedanta, Byju's, Glenmark Pharma, Dabur - ARETE Securities
Source: ARETE Securities Ltd
22/12/2022 9:59:11 AM
2023 looks another worst year for BYJU's as its problems just don`t recede As the year comes to a close, edtech platforms have hogged headlines for all the wrong reasons -- from leading layoffs in the Indian startup ecosystem to shuttering several verticals -- and top on the list is BYJU's, be it sacking employees, alleged harsh and "abusive" work culture and now a reportedly "working capital crisis" as lenders ask the edtech unicorn to repay part of a $1.2 billion loan. New reports have emerged that BYJU's, which may have seen a defin...
2023 looks another worst year for BYJU's as its problems just don`t recede
2023 looks another worst year for BYJU's as its problems just don`t recede
Source: IANS
17/12/2022 9:34:30 AM
Creditors seek part-repayment of $1.2 bn loan given to BYJU`s In seemingly fresh trouble for BYJUs, some lenders have asked the edtech unicorn to repay part of a $1.2 billion loan they recently bought into as they renegotiate terms of the debt, sources said on Wednesday. Renegotiating the terms of the debt, including faster repayment are unlikely to be accepted since these lenders make up a minority and can't sway the previously agreed terms, sources said. The demand from creditors comes at a time when BYJU's is in the process to restructu...
Creditors seek part-repayment of $1.2 bn loan given to BYJU`s
Creditors seek part-repayment of $1.2 bn loan given to BYJU`s
Source: IANS
14/12/2022 11:58:10 AM
Key Stock News: Blume Ventures, Triveni Engineering, Princeton Digital Group, NHPC, Vodafone Idea, Byju`s - ARETE Securities Blume Ventures announces closing its fund for start-ups at $250 mn Blume Ventures, the homegrown venture capital firm focused on early-stage technology start-ups, said on Wednesday it has closed its Fund IV at more than $250 million. The company’s assets under management (AUM) stand at over $600 million. The fund, which was oversubscribed compared to its initial $200 million target, will invest in some 35 companies in edtech, fintech, health, commerce, and consumer internet. It i...
Key Stock News: Blume Ventures, Triveni Engineering, Princeton Digital Group, NHPC, Vodafone Idea, Byju`s - ARETE Securities
Key Stock News: Blume Ventures, Triveni Engineering, Princeton Digital Group, NHPC, Vodafone Idea, Byju`s - ARETE Securities
Source: ARETE Securities Ltd
8/12/2022 9:38:21 AM
Why Prosus` $578 mn fair value doesn`t put BYJU`S valuation at $6 bn Global investment group Prosus has put the fair value of its 9.67 per cent stake in BYJU'S at $578 million, which technically puts the current valuation of the edtech major at nearly $6 billion -- last valued at $22 billion -- but this is not the case as Prosus has changed its accounting treatment for BYJU'S. In its September quarter results, Prosus classified BYJU's as a non-controlling financial investment rather than an associate, as its shareholding dropped below 10 per cen...
Why Prosus` $578 mn fair value doesn`t put BYJU`S valuation at $6 bn
Why Prosus` $578 mn fair value doesn`t put BYJU`S valuation at $6 bn
Source: IANS
24/11/2022 9:41:23 AM
Sequoia India may invest $50 mn in homegrown edtech startup Sequoia India is reportedly planning to invest more than $50 million in K12 Techno Services, an edtech startup that provides a variety of services to educational institutions and also manages its own chain of schools. According to a TechCrunch report on Tuesday, K12 Techno Services which has raised more than $75 million in previous rounds and also engaged with TPG and Accel decided to go with existing backer Sequoia India. "The terms of the investment might change because the round...
Sequoia India may invest $50 mn in homegrown edtech startup
Sequoia India may invest $50 mn in homegrown edtech startup
Source: IANS
26/10/2022 9:55:47 AM
Key Stock News: - Byju,LIC,PepsiCo, HCLTech,NSDL,Wipro - ARETE Securities Byju's to lay off 2,500 staffers, targets profitability by March * Edtech giant Byju’s is set to lay off nearly 2,500, or 5 per cent, of its employees as part of an “optimisation” plan. The move by India’s most valuable start-up comes amid a funding winter and steep losses. * To avoid redundancies and duplication of roles, and by leveraging technology better, around 5 per cent of Byju’s 50,000-strong workforce is expected to be rationalised across produ...
Key Stock News: - Byju,LIC,PepsiCo, HCLTech,NSDL,Wipro - ARETE Securities
Key Stock News: - Byju,LIC,PepsiCo, HCLTech,NSDL,Wipro - ARETE Securities
Source: Arete Securities Ltd
13/10/2022 10:08:59 AM
BYJU`s clears Rs 2,000 cr dues to VC firm Blackstone in $1 bn Aakash deal Edtech major BYJU's has finally paid the remaining dues of nearly Rs 1,983 crore (over $245 million) to global VC firm Blackstone in the $1 billion acquisition of Aakash Educational Services. People close to the development told IANS that BYJU's paid the remaining dues to Blackstone within the extended deadline that ended on September 23. According to BYJU's financial report FY21, "as per the terms of the agreement for acquisition of Aakash Educational Services, conside...
BYJU`s clears Rs 2,000 cr dues to VC firm Blackstone in $1 bn Aakash deal
BYJU`s clears Rs 2,000 cr dues to VC firm Blackstone in $1 bn Aakash deal
Source: IANS
24/09/2022 12:09:21 PM
BYJU's is a blockbuster like 'Brahmastra', says co-founder Divya Gokulnath Breaking her silence, BYJU's co-founder and Director Divya Gokulnath on Tuesday said that the second blockbuster release of this year, after the movie "Brahmastra", was the financial results of the $22 billion edtech major. In a LinkedIn post, Gokulnath said that she hasn't seen "Brahmastra" yet, "but I do happen to know BYJU'S results because, as its Director, I was involved in its making". She mentioned that while BYJU's reported Rs 4,500 ...
BYJU's is a blockbuster like 'Brahmastra', says co-founder Divya Gokulnath
BYJU's is a blockbuster like 'Brahmastra', says co-founder Divya Gokulnath
Source: IANS
20/09/2022 4:35:03 PM
'Worst is over' and you'll only see growth in coming months : Byju Raveendran After six stressful and tough learning months, Byju Raveendran is back in the game, consolidating the loss-making acquisitions like WhiteHat Jr and optimising the rest, while doubling down on opening more physical tuition centres. According to him, "the worst is finally over" and there is only "growth ahead" as seen in the company's FY22 financial results. The edtech company with nearly $22 billion valuation went through an ordeal as it delayed the audited FY21 fi...
'Worst is over' and you'll only see growth in coming months : Byju Raveendran
'Worst is over' and you'll only see growth in coming months : Byju Raveendran
Source: IANS
16/09/2022 12:41:26 PM
BYJU'S have to pay Rs 2,000 cr to clear Aakash acquisition deal on Sep 23 Edtech major BYJU's is set to pay the remaining amount of nearly Rs 2,000 crore to VC firm Blackstone in the $1 billion acquisition of Aakash Educational Services on September 23. According to BYJU's financial report FY21, "as per the terms of the agreement for acquisition of Aakash Educational Services, consideration to the extent of Rs 1,983 crore was due to be paid by the company to the sellers in June, 2022. This has been deferred to September 23, 2022". Blackstone...
BYJU'S have to pay Rs 2,000 cr to clear Aakash acquisition deal on Sep 23
BYJU'S have to pay Rs 2,000 cr to clear Aakash acquisition deal on Sep 23
Source: IANS
15/09/2022 5:45:32 PM
BYJU'S clocks Rs 10,000 cr sales in FY22, Raveendran to double down on growth Edtech major BYJU'S on Wednesday finally revealed its financial results for both FY22 and FY21, clocking gross revenues of nearly Rs 10,000 crore in FY22 and Rs 2,428 crore for FY21. IANS was first to report on BYJU's FY22 revenues, at Rs 9,991 crore for its FY22 financial results. The company said that there was significant business growth in FY21 over FY20, but since "this is the first year where new revenue recognition started because of a Covid-related business model ch...
BYJU'S clocks Rs 10,000 cr sales in FY22, Raveendran to double down on growth
BYJU'S clocks Rs 10,000 cr sales in FY22, Raveendran to double down on growth
Source: IANS
14/09/2022 10:46:10 AM
BYJU`s set to release FY21 financial report, sales may see significant drop  After nearly 18 months delay of "ironing out the complexities", edtech major BYJU's is all set to reveal its financial report for FY21 on Wednesday, according to reliable sources. Facing intense scrutiny from the government over the long delay, the company had received an 'unqualified' report from auditor Deloitte late last month. According to sources, there is going to be a substantial difference between the projected sales and the audited revenue in BYJU...
BYJU`s set to release FY21 financial report, sales may see significant drop
BYJU`s set to release FY21 financial report, sales may see significant drop
Source: IANS
13/09/2022 1:00:58 PM
Key Stock News: Reliance Industries, Reliance Jio, BYJU`S, Vodafone Idea, IndiGo, Bank of India - ARETE Securities Key News Reliance to partner Qualcomm to develop 5G solutions: Ambani at 45th AGM Reliance Jio, the nation's largest telecom operator, has partnered with Qualcomm to develop 5G solutions for India, Mukesh Ambani said on Monday. Speaking at Reliance Industries' 45th AGM, he said the firm is partnering with Google to develop ultra-affordable 5G smartphones and Google Cloud. It has now forged a collaboration with Qualcomm to develop a 5G solution for India, which can be taken to th...
Key Stock News: Reliance Industries, Reliance Jio, BYJU`S, Vodafone Idea, IndiGo, Bank of India - ARETE Securities
Key Stock News: Reliance Industries, Reliance Jio, BYJU`S, Vodafone Idea, IndiGo, Bank of India - ARETE Securities
Source: ARETE Securities Ltd
30/08/2022 9:40:56 AM
BYJU`s receives clean FY21 audit from Deloitte, to make it public next week India's most-valued edtech startup BYJU's has finally received an 'unqualified' or clean report from auditor Deloitte on its financial results for FY21 that will be shared with the equity and debt investors next week, top sources privy to the development said on Monday. An unqualified report means that the financial statements of a company are fair and transparent based on thorough research, putting to rest all speculations about BYJU's poor financial health. Top sou...
BYJU`s receives clean FY21 audit from Deloitte, to make it public next week
BYJU`s receives clean FY21 audit from Deloitte, to make it public next week
Source: IANS
29/08/2022 12:45:02 PM
BYJU's long delay in FY21 audit report filing alarms govt, company mum India's most-valuable startup BYJU's is facing larger scrutiny from the government as it has failed to submit its audited financial report from Deloitte for the financial year 2021 even after more than 17 months. Insider company sources told IANS that the report is expected anytime soon, may be next week, but the long delay has now alarmed the Ministry of Corporate Affairs (MCA). According to sources, the ministry sent a letter to BYJU's earlier this month, asking the $22 bi...
BYJU's long delay in FY21 audit report filing alarms govt, company mum
BYJU's long delay in FY21 audit report filing alarms govt, company mum
Source: IANS
26/08/2022 11:50:42 AM
Deloitte audit report very soon as BYJU`s files FY21 tax returns The IPO-bound edtech major BYJU's, which has filed its tax returns for fiscal year 2020-21, is set to make public the audited financial statement for FY21 from global consulting firm Deloitte very soon, top sources privy to the development said on Monday. The audited financial statement for FY21 from Deloitte may also be made public "within a week" as the consolidation of businesses is complete after "ironing out the complexities" as the edtech unicorn made at least...
Deloitte audit report very soon as BYJU`s files FY21 tax returns
Deloitte audit report very soon as BYJU`s files FY21 tax returns
Source: IANS
15/08/2022 4:29:20 PM
MD of BYJU`s-owned Aakash Institute buys Delhi property worth Rs 137 cr Aakash Chaudhry, co-founder and managing director of BYJU's-owned Aakash Educational Services, has bought a property worth Rs 137 crore at Kautilya Marg, Diplomatic Enclave, in the posh Chanakyapuri area in the national capital, multiple reports said on Thursday. According to data from online property registration provider Zapkey, the 1,300 square metre property was registered on August 1 and Chaudhry reportedly paid stamp duty worth Rs 8.22 crore. According to multiple media report...
MD of BYJU`s-owned Aakash Institute buys Delhi property worth Rs 137 cr
MD of BYJU`s-owned Aakash Institute buys Delhi property worth Rs 137 cr
Source: IANS
12/08/2022 10:05:09 AM
Machine Learning top skill-set for data scientist jobs in India: Report For 84 per cent professionals in the country, machine learning (ML) followed by statistics are the two most in-demand skills that recruiters are looking for in data science professionals, a report said on Tuesday. Python remains the most used programming language across all sectors and MS Excel, Tableau and Power BI are the top three visualisation tools used by data science professionals, according to the report by Great Learning, a BYJU's group company. "For professionals look...
Machine Learning top skill-set for data scientist jobs in India: Report
Machine Learning top skill-set for data scientist jobs in India: Report
Source: IANS
9/08/2022 5:17:53 PM
Parents fume as edtech platforms force them to buy online courses As the government begins to take steps to fix edtech platforms like BYJU's, several parents have shared their plight on social media and professional networking platforms as representatives from online education providers continue to force them to buy courses. The Ministry of Consumer Affairs recently pulled up edtech firms during a meeting with them and self-regulatory organisation India Edtech Consortium (IEC) amid aggressive misselling of courses to parents. "Hey BYJU'S ...
Parents fume as edtech platforms force them to buy online courses
Parents fume as edtech platforms force them to buy online courses
Source: IANS
19/07/2022 9:18:39 AM
BYJU's ropes in two ex-Amazon execs at key positions Edtech platform BYJU's on Thursday announced that it has roped in two former Amazon executives -- Sunil Sharma and Darshan Bhandari -- to further enhance its learning products and solutions. Sharma has been appointed as Vice President, Engineering - Student and Teacher Experience and Bhandari as Vice-President, Engineering - BYJU's Tuition Centre and Devices. "I am delighted to welcome Sunil and Darshan as we continue to strengthen our tech foundation," Anil Goel, Pres...
BYJU's ropes in two ex-Amazon execs at key positions
BYJU's ropes in two ex-Amazon execs at key positions
Source: IANS
7/07/2022 5:14:57 PM
Andhra Pradesh Chief Minister Ys Jagan Mohan Reddy Disbursesvidya Kanuka School Kits For The 3rd Consecutive Year * School Kits Distribution For The Academic Year 2022 – 23; Government Spends Rs. 931.02 Cr On The Scheme Benefitting 47.40 Lacs Students * Government Spent Rs. 2,368.33 Cr On Vidya Kanuka Scheme In The Last 3 Years * Rs. 52,676 Cr Expenditure On Education Sector In Last 3 Years Adoni, Andhra Pradesh: Marking the third consecutive year, the ‘Jagananna Vidya Kanuka’ stands as one of the most beneficial schemes for school students. The Jagananna Vidya Kanuka started w...
Andhra Pradesh Chief Minister Ys Jagan Mohan Reddy Disbursesvidya Kanuka School Kits For The 3rd Consecutive Year
Andhra Pradesh Chief Minister Ys Jagan Mohan Reddy Disbursesvidya Kanuka School Kits For The 3rd Consecutive Year
Source: PR Agency
5/07/2022 5:47:00 PM
BYJU`s closes $1 bn Aakash acquisition, $800 mn funds `expected soon` Edtech platform BYJU's on Monday said it has closed the nearly $1 billion acquisition of offline test preparatory services provider Aakash. The company, in a statement, said that its payments to Aakash are "closed" and the "audited financial results are going to be announced in the next 10 days". Reacting to another report that BYJU's is yet to receive funds from US-based Sumeru Ventures, the edtech giant said most of the funds have been received and the rest...
BYJU`s closes $1 bn Aakash acquisition, $800 mn funds `expected soon`
BYJU`s closes $1 bn Aakash acquisition, $800 mn funds `expected soon`
Source: IANS
4/07/2022 5:06:27 PM
BYJU`s says will file FY21 results by July 15, denies reports on Deloitte Edtech giant BYJU's on Saturday denied reports that its auditor Deloitte is yet to sign off its 2020-21 (FY21) financial results, saying that the company will file the financial results by July 15. In a statement to IANS, BYJU's which was last valued at $22 billion "strongly denied" the reports. "We strongly deny the allegations about Deloitte not signing our results. Our FY21 results will be out by July 15," a company spokesperson said. Earlier reports sa...
BYJU`s says will file FY21 results by July 15, denies reports on Deloitte
BYJU`s says will file FY21 results by July 15, denies reports on Deloitte
Source: IANS
2/07/2022 3:01:36 PM
Key Stock News - PVR, Eveready, NMDC, Tata Motors, Byju By ARETE Securities Key News PVR restarts capex cycle, plans to open about 125 screens in FY23 Leading multiplex chain operator PVR expects the movie exhibition industry to bounce back "dynamically" in FY23 and plans to open as many as 125 screens during the year, its highest ever tally in a year. According to the company's latest annual report, PVR, which is merging with rival Inox Leisure, expects the process to be completed this fiscal.   Eveready set to transform with growth &a...
Key Stock News - PVR, Eveready, NMDC, Tata Motors, Byju By ARETE Securities
Key Stock News - PVR, Eveready, NMDC, Tata Motors, Byju By ARETE Securities
Source: ARETE Securities Ltd
30/06/2022 9:19:26 AM
BYJU's says Aakash acquisition process on track, to be completed by August Edtech giant BYJU's on Wednesday said that the $1 billion acquisition process of Aakash Educational Services is on track and is expected to be completed by August. BYJU's acquired Delhi-based offline test preparatory services provider Aakash for $1 billion last year. The company was reacting to reports that Blackstone and other shareholders of Aakash are yet to be paid in both cash and stock as it has deferred the payment. A company spokesperson told IANS that the acquisition...
BYJU's says Aakash acquisition process on track, to be completed by August
BYJU's says Aakash acquisition process on track, to be completed by August
Source: IANS
29/06/2022 2:14:27 PM
BYJU's rejigs global team as part of expansion plan as edtech space shrinks Edtech major BYJU's on Tuesday named Krishna Vedati as President of Global Growth and Strategic Initiatives, along with rejigging top leadership at K-12 creative coding platform Tynker (which it acquired for $200 million) as part of its US expansion. Vedati, Co-Founder and CEO of Tynker, will report to BYJU's Co-Founder and CEO Byju Raveendran. Srinivas Mandyam, Co-Founder and CTO of Tynker, will replace Vedati as Tynker's CEO, and Kelvin Chong, Tynker Co-Founder and Chief A...
BYJU's rejigs global team as part of expansion plan as edtech space shrinks
BYJU's rejigs global team as part of expansion plan as edtech space shrinks
Source: IANS
28/06/2022 2:21:24 PM
BYJU's says will file financial results for last 2 years this month After reports surfaced that edtech giant BYJU's, last valued at $22 billion, is yet to file its financial statements for FY21 and FY22, the company said on Wednesday that it has completed the consolidation of businesses, a process that was on for some time, and will be filing its financial results this month. The edtech unicorn made at least 10 acquisitions for a cumulative transaction value of about $2.5 billion last year. According to a report in The Ken, BYJU's auditor Deloit...
BYJU's says will file financial results for last 2 years this month
BYJU's says will file financial results for last 2 years this month
Source: IANS
15/06/2022 3:46:49 PM
Byju Raveendran set to focus on global biz as India edtech market shrinks Edtech leader BYJU's is in for a big change with its Founder and CEO Byju Raveendran set to focus his energies on global operations, especially in the US, as the Indian online edtech market shrinks considerably with schools, colleges and tuition centres reopening. Sources close to the development told IANS that Raveendran is all set to hand over India operations to Chief Operating Officer Mrinal Mohit. BYJU's, which was last valued at nearly $22 billion making it India's mos...
Byju Raveendran set to focus on global biz as India edtech market shrinks
Byju Raveendran set to focus on global biz as India edtech market shrinks
Source: IANS
30/05/2022 4:46:12 PM
Unacademy opens tuition centres like BYJU's as edtech space shrinks As online education space shrinks with India reopening amid the 'hybrid normal', learning platform Unacademy on Wednesday announced its foray into opening physical tuition centres across the country, following BYJU's footsteps. The Unacademy centres will facilitate the offline classes in the NEET UG, IT JEE and Foundation (9-12) course categories. The first Unacademy centre will be operational in Kota by next month, followed by similar touchpoints in Jaipur, Bengaluru, Chand...
Unacademy opens tuition centres like BYJU's as edtech space shrinks
Unacademy opens tuition centres like BYJU's as edtech space shrinks
Source: IANS
19/05/2022 8:43:26 AM
Key News - Hindustan Aeronautics Ltd, Supriya Lifescience Ltd, Larsen & Toubro Ltd, Novartis, Byju's By ARETE Securities Key News HAL signs Rs 2,400 cr contract with BEL for supply of avionics for LCA Hindustan Aeronautics Limited on Thursday awarded a Rs 2,400 crore contract to Bharat Electronics Limited for the manufacture and supply of 20 types of airborne electronic systems for the LCA Tejas Mk1A fighter aircraft programme. The order spanning five years from 2023 to 2028 involves supply of critical avionic Line Replaceable Units (LRUs) related to Digital Flight Control Computers, Air Data Computers, ...
Key News - Hindustan Aeronautics Ltd, Supriya Lifescience Ltd, Larsen & Toubro Ltd, Novartis, Byju's By ARETE Securities
Key News - Hindustan Aeronautics Ltd, Supriya Lifescience Ltd, Larsen & Toubro Ltd, Novartis, Byju's By ARETE Securities
Source: ARETE Securities Ltd
17/12/2021 9:27:23 AM
BYJU'S acquires maths learning platform GeoGebra With an aim to make maths learning more visual and interactive, edtech unicorn BYJU's on Wednesday announced that it has acquired Austria-headquartered GeoGebra for an undisclosed sum. BYJU's said that the Austrian company has an interactive and collaborative mathematics learning tool and the company will continue to operate as an independent unit within the BYJU'S group under the leadership of its Founder and Developer, Markus Hohenwarter. "The GeoGebra team has built ...
BYJU'S acquires maths learning platform GeoGebra
BYJU'S acquires maths learning platform GeoGebra
Source: IANS
8/12/2021 4:06:12 PM
Byju`s most valuable startup in India, 11th in the world Edtech company Byju's is now India's most valuable unicorn startup with a valuation of $16.5 billion, surpassing fintech company Paytm's $16 billion valuation. As per CB Insights data, as of June 2021, Byju's is the 11th most valuable startup in the world. The total number of unicorns worldwide is 708 with a valuation of $ 2319 billion. Chinese company Bytedance, the parent company of TikTok, is the most valuable startup in the world with a valuation of $140 billion. ...
Byju`s most valuable startup in India, 11th in the world
Byju`s most valuable startup in India, 11th in the world
Source: IANS
13/06/2021 9:05:08 AM