4000 crore loss! Investing in Byjus, the setback directly this institution

By: 600011 On: Jun 24, 2024, 5:10 PM


Process, a Dutch-headquartered global investment firm, has written down its 9.6 percent stake in troubled edutech company ByJuice. Process had invested around Rs 4150 crore in Baiju. The process incurred a loss of Rs 4000 crore on this investment. A zero investment value of the process in Byjus will be a huge blow to the valuation of Byjus. At present Baijus is in dire financial straits. A Process spokesperson said Baiju was downgraded due to insufficient information about the company's financial position, liabilities and future outlook. Process has also invested in other leading Indian startups like Swiggy, Meesho and Eruditus.

Many prominent investors have estimated zero investment value in Byjus. The company's valuation has also affected its founder Baiju Ravindran. According to the recently released Forbes Billionaire Index 2024, his net worth has dropped to zero. Baijus is also facing a setback when people in important positions resign during the severe crisis.