Byju’s rights issue gets $300 million commitment

Edtech major Think and Learn, which operates under Byju’s brand name, is learnt to have received a commitment of $300 million from investors for its ongoing rights issue which will close by the end of February, sources aware of the development said. Byju’s floated a rights issue in January to raise $200 million through equity rights issue at an enterprise valuation in the range of $220-250 million which is a 99% reduction in its peak valuation of $22 billion.