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The podcast discusses Byju's struggle with dropping valuation and attracting investors despite a $300 million offer. It also explores the concept of a rights issue, with a focus on existing investors maintaining or selling their entitlements, and the potential role of external investors like Ranjan Pai.
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Quick takeaways
- Byju's opted for a rights issue to raise funds and preserve existing investors' stake.
- Existing investors can sell their rights entitlement to external investors, potentially attracting new backers.
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The Ongoing Rights Issue at Byjose's Headquarters
Byjose, once a high-flying startup valued at $22 billion, has faced financial struggles and slashed its valuation by 99%. In desperate need of money, the company has turned to investors for a fundraising effort. Rather than opting for a bank loan or selling shares at a discount, Byjose has chosen a rights issue, offering existing investors the first right to purchase new shares. This allows them to maintain their stake in the company and potentially reduce the weighted average cost of their shares.
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