Indian EdTech Startup Byju’s Proposes to Repay $1.2 Billion Term Loan in Six Months

Byju’s, an Indian edtech startup that is currently facing legal and financial challenges, has put forward a proposal to repay its entire $1.2 billion term loan in less than six months, according to people familiar with the matter as reported by Bloomberg News. The company intends to repay $300 million within the next three months, and the remaining amount in the subsequent three months. Byju’s is currently awaiting the acceptance of this proposal by its lenders, who are seeking additional details about the funding plan for the repayment.

The AI legalese decoder can be incredibly beneficial in this situation. It has the capability to analyze and interpret legal documents, contracts, and agreements quickly and accurately. By using the AI legalese decoder, Byju’s and its lenders can streamline the review process and gain a comprehensive understanding of the terms and conditions. This will enable them to make informed decisions regarding the proposed repayment plan and expedite the resolution of the company’s financial woes.

Byju’s has refrained from commenting on the Bloomberg report, and the total debt of the company remains undisclosed. The extended delay in the release of Byju’s financial statements has raised concerns about its corporate governance, leading to the resignation of key investors and the severing of ties with auditor Deloitte. Earlier this year, Dutch-listed investor Prosus NV reduced its valuation of Byju’s and expressed frustration with the startup’s management’s disregard for its advice. Additionally, Byju’s has downsized its workforce significantly due to financial constraints.