Byju’s delays salaries, says investors can’t oust management

BENGALURU: Edtech firm Byju’s has once again delayed paying salaries to employees. It said the $200 million rights issue is likely to take at least 25 more days to complete.

“The success of the rights issue will ensure that we have sufficient operational capital to fund our short-term needs from March onwards,” the management said in its letter to employees. The management also said that January salaries will be paid in a phased manner and will be completed by Monday.