Byju's founder, Byju Raveendran, has reached out to estranged investors offering them a chance to invest in a rights issue to prevent dilution of their shareholding. The company has secured over 50% votes to increase authorized share capital, allowing for a $200M rights issue. Byju's board plans to offer renounced shares to existing shareholders to appease dissenting investors.
🚨🆕Dissenting investors of Byju's are unlikely to subscribe to the recently floated rights issue even as the embattled edtech company offered 72 more hours to them to participate, signalling that the feud is far from over. @chandrarsrikant @moneycontrolcom
Byju's founder floats share offer to make peace with estranged investors | TechCrunch https://t.co/pCzV0BPPxm
No #objection to #resolution in #Byju's #EGM; miffed #investors await scrutiniser's report https://t.co/uKUuvN3FBo
#ByjuRaveendran, founder and CEO of #Byju’s, has offered its estranged #investors a chance to invest in the rights issue of the company – at a 99% discount to the company’s peak valuation – so that their shareholding is not diluted. https://t.co/rE3I29Qv26
Byju's EGM For Raising Capital: Meeting ends; did shareholders approve? Latest UPDATE https://t.co/YQQXCACp3Z
No objections raised! Byju's concludes EGM to increase authorised share capital in absence of dissenting investors By @Unibrowverse https://t.co/Ui7ZaiYhnK via @moneycontrolcom
Sources Say | Byju's EGM seeking shareholders approval for raising authorized capital has ended. Check out the details👇🏾 @BYJUS @anujosh_aj https://t.co/Jtu1837wtP
News Alert | Here are the key takeaways from Byju's email to shareholders @BYJUS @anujosh_aj https://t.co/aeoFpVXM5o
📣 #Byju's EGM to seek shareholder nod for increase in authorised share capital to enable the $200M rights issue held this morning “EGM started at 10 am & ended around 10.30 am with requisite quorum. No objections were raised to resolutions called out,” sources told CNBC-TV18 https://t.co/fTzLBxIpx4
📣 Byju Raveendran has made an offer to dissenting shareholders to participate in the rights issue. According to a letter by him to shareholders, he informed investors Byju’s has secured over 50% votes to increase authorised share capital to account for the $200M rights issue. https://t.co/CzNQVY4IFi
🚨 #JustIn | @BYJUS secures 50% votes for #rightsissue, offers battling investors to participate in funding Byju Raveendran said despite the “animosity shown by some of the investors”, the company continues to show good faith towards all shareholders. https://t.co/ksPtyr802r
Byju’s founder floats share offer to make peace with estranged investors https://t.co/QlH8ts49WX
Byju’s founder floats share offer to make peace with estranged investors: https://t.co/ry1YVTEivO by TechCrunch #infosec #cybersecurity #technology #news
Now, Byju's writes to estranged investors offering them to invest in rights issue again to their shareholding is not diluted. Informs shareholders co has got 50% votes to increase authorised shared capital https://t.co/TtkeqvByEK
Byju writes to estranged investors, saying the board is considering making an offer of renounced shares to them to ensure that there is "no more dilution to their shareholding" - email Byju's has received 50% votes to increased authorized share capital - email
BREAKING: Byju's gets more than 50% votes to increase authorised share capital Byju Raveendran extends olive branch to dissenting shareholders (Peak XV, Prosus, GA among others) Byju's Board to make offer of renounced shares to existing shareholders
The National Company Law Tribunal (NCLT), in a hearing, refused to stay the extraordinary general meeting (EGM) scheduled for March 29, aimed at increasing BYJU'S authorised share capital for the $200 million rights issue. Read more 👇 https://t.co/ceaiJeiZDk.
🚨 #NCLT refuses to stay @BYJUS #EGM over $200 million rights issue Investors of Byju’s parent Think & Learn, led by Prosus, had moved NCLT seeking a stay on the planned EGM and block the #rights issue. https://t.co/uLR5ri7ote
🚨🚨 IMP: Win for Byju's, EGM to go ahead tomorrow "Please don't waste the time of this court" Byju's gets a breather as NCLT refuses to defer EGM over rights issue By @Unibrowverse and @thyagarajan_law https://t.co/KPmXciAvuC via @moneycontrolcom
From NCLT : Tribunal refuses to stay Byju's EGM on March 29 to increase authorised share capital for the $200M rights issue. Next hearing slated for Apr 4 but tom EGM on rights issue not stayed by the tribunal. https://t.co/Wo9UbIXBFN