BYJU’S in process to raise debt of up to Rs 700 cr; pledges shares, real estate to fund operations

New Delhi, Dec 4 (PTI) Edtech major BYJU’S is in process to raise Rs 600-700 crore to fund the company’s operations till March by when it expects to realise money through the sale of Epic and partial stake sale in other subsidiaries, according to sources aware of the development.

BYJU’S founder Byju Raveendran has recently raised money by mortgaging home and real estate assets owned by family members for paying salaries, sources said.

“There is about Rs 50 crore gap per month in operational expenses where a large component is salary. Promoters have pledged shares, home, and some other real estate assets of family members to bridge the gap,” a source said.