BYJU’S again failed to clear Blackstone’s dues

, By Team SNFYI
EdTech

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In what appears to be yet another setback for BYJU’s, the edtech giant has reportedly missed yet another deadline to pay more than INR 1,500 crore in dues to private equity firm Blackstone.

The dues are allegedly related to the INR 7,300 Cr acquisition of the tutorial chain Aakash Educational Services in April of last year. According to a source, BYJU’s has promised to pay Blackstone INR 1,500 Cr – INR 1,620 Cr by June 2022, out of the total amount owed to the private equity firm. Following that, the edtech giant’s audited financial reports for the fiscal year 2020-21 (FY21), which were released earlier this month, stated that all pending payments to Blackstone would be cleared by September 23.

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BYJU’S again failed to clear Blackstone’s dues

, By Team SNFYI
EdTech

In what appears to be yet another setback for BYJU’s, the edtech giant has reportedly missed yet another deadline to pay more than INR 1,500 crore in dues to private equity firm Blackstone.

The dues are allegedly related to the INR 7,300 Cr acquisition of the tutorial chain Aakash Educational Services in April of last year. According to a source, BYJU’s has promised to pay Blackstone INR 1,500 Cr – INR 1,620 Cr by June 2022, out of the total amount owed to the private equity firm. Following that, the edtech giant’s audited financial reports for the fiscal year 2020-21 (FY21), which were released earlier this month, stated that all pending payments to Blackstone would be cleared by September 23.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News
Fintech Julaya raised $5 million extension round led by Speedinvest and others
Next News
Zomato to take action against Cloud Kitchens with more than ten brands
Team SNFYI

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