Prosus Takes $578 Million Hit on Byju's Investment

Dutch investment firm Prosus has written off USD 578 million invested in Byju's. The loss comes after Prosus's stake in the edtech company dropped to 9.6% in 2022. Prosus is also among the investors challenging Byju's management over a $200 million rights issue.

Dutch investment firm Prosus has reported a substantial financial loss, writing off USD 578 million on its investment in Indian edtech firm Byju's. This development comes after Prosus's stake in Byju's fell to 9.6 per cent in 2022, significantly diminishing its influence in the company.

In its annual report for the fiscal year ended 2024, Prosus stated: 'The group accounts for its 9.60 per cent effective interest in BYJU’S at fair value through other comprehensive income. The fair value of BYJU’S investment subsequent to the loss of significant influence is USD 578 million.'

Additionally, Prosus is part of a group of four investors who have approached the National Company Law Tribunal (NCLT) to dispute Byju's management over a USD 200 million rights issue, further complicating the edtech firm's financial and operational landscape.