According to the latest report of the popular Ed-Tech start, Biju is likely to refine its censored financial results for its credit investors, approving a television auditor before September 6th. The report states that Biju will be expected to hold a board meeting next week, after receiving the final report to executives. In addition, the online training institution actually planned to invite investors earlier this month, but it was necessary to delay the closure of censored financial statements. On a similar note, as soon as the company will be expected to take place next week in board meeting as soon as the report receives managers.
However, one of the latest advances explained the delay in the formation of censored cases that the ministry sent a letter to the autumn’s parents earlier this month and calls for the fact that Biju is still centered by the audit. Is there a financial account with Biju by March 2021. The company told the Ministry of Corporate Affairs that the delay in filing is due to the consolidation of accounts of several companies acquired by the online education provider during the reporting year, as indicated in the financial audit report.
Among other things, Byjuice is rapidly expanding globally, having acquired several startups in the United States and other countries. An unlisted company must file its annual returns within seven months of the end of the financial year, after which an additional fee is payable for each day of delay.
Finally, according to the Economic Times, Byjuice, which spent more than $2.5 billion on acquisitions last year, is raising debt to finance ongoing potential M&A deals. According to the company, Ravendran invested $ 400 million in personal capital, which is organized by the debt of financial investors. It was part of an $800 million funding round that was first announced in March but has yet to be completed. According to the previous reports of the company, it expects to receive about $ 250 million in capital before the end of this month. Investors like Oxshot Capital and Sumeru Ventures are yet to invest in the startup. Last November, Byjuice raised $1.2 billion in term debt.
According to news reports, Ravindran was close to closing a $2.4 billion investment from JP Morgan to acquire US edtech company 2U. Ravindran told ET in May, “We are looking at big multi-billion acquisitions… That’s why we are approaching all kinds of capital. We are exploring the US.” If you have read so far, I hope you need to know about the planning of the poor to form censored financial results on September 6, and now you can determine if you think it is right, you think they are the next step .
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