The Byju’s saga so far

<p>Byju’s financials for the Financial year 2022, are finally out. Almost 2 years late.</p><p>And unsurprisingly, it doesn't paint a very pretty picture.</p><p>The edtech giant posted a consolidated loss of more than 8000 crore rupees on an operating revenue of around 5000 crores.</p><p><br /></p><p> And that’s not all…its valuation has dipped from about 22 billion dollars in the last funding round to less than a billion now.</p><p><br /></p><p>Its quite the fall.</p><p><br /></p><p>Now the cash strapped company is desperately looking to raise $100 million via a rights issue as a lifeline but unfortunately everyone its gone to has outright said no.</p><p>And it is unlikely that it may work out in the future unless Byju’s submits its audited financials for FY 2023.</p><p>It missed its own Dec 2023 deadline for filing it. </p><p><br /></p><p>Also, the sword of the 1.2 billion dollar term loan is still hanging over its heard.</p><p><br /></p><p>Let’s catch up with the major developments so far.</p>