Byjus faces deadline amidst $1.2 Billion Loan Repayment Crisis today
The loan is the largest unrated debt by a startup ever, recorded for a startup, amounting to $1.2 billion.

Byjus faces deadline amidst $1.2 Billion Loan Repayment Crisis today | Twitter
On Monday, Byju's, a highly valued startup, is expected to pay the $40 million instalment of its highest unrated loan of $1.2 billion. Additionally, the ed-tech startup is expected to pay its quarterly interest payment on June 5 deadline, according to people familiar with the matter.
If Byju's fail to make the quarterly interest payment, it will result in a default on the loan, which has been identified as the primary source of the struggling company's financial difficulties.
The loan is the largest unrated debt by a startup ever, recorded for a startup, amounting to $1.2 billion. Byju's laurels changed after the reopening of schools post-pandemic. The decline in the demand for online tutoring during the pandemic has significantly impacted the company's financial stability, prompting the need for such restructuring efforts. The company, previously recognized for its exceptional growth under the leadership of former teacher Byju Raveendran, has been actively seeking negotiations with creditors to restructure the loan. After the decline of the pandemic-era boom in online tutoring, the company's profit crashed significantly.
According to data compiled by Bloomberg, the loan accounted for a record low of 64.5 cents a dollar in September, is now quoted at around 78 cents.
The company has failed to meet the required deadlines for submitting financial accounts for the year to March 3. Additionally, its offices were searched by the agency that investigates violations of the nation's foreign exchange policies.
RECENT STORIES
-
CSBC Bihar Police Constable Admit Card 2025 To Be Out Tomorrow At csbc.bihar.gov.in; Check Details... -
Wimbledon 2025: Novak Djokovic's Son Performs Family Dance, Tennis Star Follows Suit After Victory... -
Union Minister Ashwini Vaishnaw’s Father Passes Away At 82 In AIIMS Jodhpur -
2,900 Acres Of Land Deals With Market Value Of ₹31,000 Crore Transacted In First Six Months Of... -
Union Railway Minister Ashwini Vaishnaw's Father Dies At AIIMS Jodhpur