Shareholders’ nod for Byju’s to raise capital

New Delhi: The majority of shareholders of edtech firm Think and Learn, owner of Byju’s brand, have approved the company’s resolution to increase its authorised share capital to absorb $200 million raised through the rights issue, a statement said on Monday.

The EGM held on March 29 was opposed by a group of investors in the company. “The Extraordinary General Meeting (EGM) held on March 29, 2024, has been approved by a majority of 55 per cent of the total votes polled. The voting process, which included both the EGM and a postal ballot that concluded on April 6, 2024, has been duly scrutinised by an independent third party,” the company said in a statement.