The country’s largest edtech start-up is preparing to bring Byju’s IPO. The company, which is aiming to enter the primary market next year, can bring an IPO of Rs. According to a Bloomberg report, Bengaluru-based company Byju’s may file papers for IPO in July next year. Before that, it can raise more funds and take its valuation to $ 21 billion.
Priority to bring IPO in India
Meanwhile, the company’s bankers Morgan Stanley (Citi group) and JP Morgan (JPMorgan Chase) can help take the valuation of the company to $ 40 to 50 billion. These banks are involved in the fund raising process for the company. These bankers say that funds can be raised by bringing an IPO in America or by merging with Special Purpose Acquisition Company (SPAC). But the company will give priority to IPO in India itself.
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Byju’s has made several acquisitions one after the other
Recently Byju’s has made several acquisitions one after the other. Its recent acquisition is Gradeup, an online exam preparation platform. This is Byjus’ fifth acquisition within a year. Earlier, apart from Whitehat Jr and Toppr, the company had acquired Aakash Educational Services and Great Learning, companies that conduct offline preparation for examinations. In one of his interviews in July, the company’s CEO Raveendran had said that Byjus can bring an IPO within a year and a half. In the last one and a half years, the company has raised funds of $ 1.5 billion and its valuation has increased to $ 16.5 billion. Recently the company has acquired UBS, Blackstone, ADQ, $350 million was raised from Eric Yuan, founder of Phoenix Rising and Zoom.