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Prosus writes off entire investment of Rs 4,800 crore in BYJU’S
PTI, Jun 25, 2024, 10:07 AM IST
New Delhi: Dutch investment firm Prosus has written off $578 million (about Rs 4,800 crore) that it invested in Edtech firm BYJU’s, the company said on Monday.
In September 2022, Prosus had lost significant influence on Think and Learn, which owns Byju’s brand, as its stake in the Edtech firm came down to 9.6 per cent.
“The group accounts for its 9.60 per cent effective interest in BYJU’S at fair value through other comprehensive income. The fair value of BYJU’S investment subsequent to the loss of significant influence is $578 million,” Prosus said in its annual report for the fiscal year ended 2024.
Prosus is among the four investors that have approached the NCLT against Byju’s management and its $200 million rights issue.
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