Edtech company Byju’s plans asset sale to pay off $1.2 billion loan

Byju’s, India’s most-valued startup, has decided to put two of its key assets — Epic and Great Learning — on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm’s various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources.

The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju’s amendment proposal, said the people familiar with the development.