(Reuters) – BlackRock has but once more minimize the worth of its holding in Byju’s, slashing the implied valuation of the Indian schooling tech startup to $1 billion from $22 billion mark set in early 2022, TechCrunch reported on Friday, citing disclosures made by the asset supervisor.
BlackRock, which owns lower than 1% of Byju’s, declined to remark, whereas Byju’s didn’t instantly reply to a Reuters request for remark.
Tech investor Prosus NV valued Byju’s at beneath $3 billion in November final 12 months after BlackRock minimize its valuation to about $8.4 billion in Might, the report mentioned.
Amid a string of setbacks, Byju’s acquired a discover from Enforcement Directorate (ED) in late November and is anticipated to pay a advantageous for alleged violations of overseas alternate legal guidelines.
(Reporting by Harshita Meenaktshi in Bengaluru; Enhancing by Shweta Agarwal)
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