The legal battle between Byju’s and lenders in the US on the edtech firm’s $1.2-billion term loan B (TLB) is expected to adversely affect its fund raising, including debt, loan, and equity, according to industry sources and experts.
They said this might delay the initial public offering (IPO) for its tutoring service subsidiary Aakash Educational Services (AESL). AESL is eyeing an IPO by next year.
Byju’s has filed a suit against US-based investment management firm Redwood, challenging the acceleration of the $1.2-billion TLB facility and to disqualify the lender for its “predatory tactics”, the edtech major said recently.
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