Byju's Says Promoters Re-Invested Amount Raised From Secondary Share Sale
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Byju's statement came in the backdrop of the report of an intelligence firm. New Delhi: Edtech major Byju's on Tuesday said its promoters have re-invested the entire amount raised by them through secondary sale of shares in the company. According to private market intelligence firm PrivateCircle Research, Byju's promoters -- Byju Raveendran, Divya Gokulnath and Riju Ravindran -- have together sold shares worth around $408.53 million in 40 secondary transactions since 2015. "The promoters of BYJU'S have reinvested the entire amounts raised from secondary sales into the business for purposes of scaling it over the years," Byju's said in a statement. The statement came in the backdrop of the report of the intelligence firm. PrivateCircle said Mr Raveendran holds 15.90 per cent, whereas Divya Gokulnath and Riju Ravindran have 3.32 per cent and 1.99 per cent, respectively. "Promoters' shareholding in the company has been gradually dropping ...