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HomeBusinessDecacorn Edtech Byju's Raising $1.2B Through TBL

Decacorn Edtech Byju’s Raising $1.2B Through TBL

Edtech Unicorn is likely to infuse fresh capital for general corporate objectives and towards working capital requirements as the report says.

The Indian Edtech startup BYJU’s is planning to bag $1.2 billion through a term loan (TBL) funding as it plans to go for an initial public offering in a few months.

TLB refers to a secured loan facility from overseas investors and has a floating interest rate, with a tenure of five to seven years.

Edtech Unicorn is likely to infuse fresh capital for general corporate objectives and towards working capital requirements as the report says.

Founded by BYJU’s Raveendran a Former teacher in 2015, is quite active on the M&A front. 

Recently, BYJU’s has made 9 buyouts in India and overseas, investing close to $2.5 billion to acquire.

After hospitality Unicorn, Oyo Rooms, Byju’s is the second Indian startup to raise capital through TBL. In July, Oyo had announced raising TBL Capital of $660 Million.

Source: Business World

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