For more capital, Byju’s must pass a tough test

Top shareholders at Byju’s have demanded the company meet certain conditions before they consider any future capital infusion into the beleaguered edtech firm that is battling a deepening fund crunch, people in the know of the matter said.

These investors have asked the company to file its audited financials for the year ended March 31, 2023, at the earliest. In addition, they want founder Byju Raveendran to loosen his day-to-day control over operations at the firm, the sources added.