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Liquidity crisis to ease in 45-60 days, says Byju's
Tuesday, 5 December 2023
Byju's expects the liquidity crisis to ease in 45-60 days. The firm is working to close the audit of its FY23 accounts. The litigation surrounding term loan B (TLB) is a challenge, but negotiations with lenders are underway. Byju's is trying to raise $400 million through the sale of Epic to manage the liquidity crunch. Resource optimisations are necessary to achieve profitability. The company's valuation dropped, reporting Ebitda losses and laying off employees. Byju's plans to offer more options to potential customers.
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