An unsecured loan of Rs 300 crore was received by edtech company BYJU’S through its wholly-owned subsidiary Aakash Educational Services for “principal business activities.”
In April 2021, BYJU’s purchased Aakash for about $950 million in cash and equity, making it one of India’s largest purchases in the education sector. The loan was given at a 7.50% yearly interest rate, according to the filings, the article states. The most recent development occurs as BYJU’S is concentrating on cost-cutting strategies to get through the funding winter.
