Byju's Valuation Takes a Nosedive: Macquarie Slashes Stake by 98%

  • Edtech major Byju's faces a major setback as Macquarie Capital significantly reduces its valuation by nearly 98%.
  • This comes after concerns were raised about Byju's finances, particularly its high valuation set in 2022.
  • The move by Macquarie follows accusations from Swiss bank Julius Baer regarding Byju's charging fees based on an inflated valuation.
  • This development adds to Byju's ongoing challenges, including a recent rights issue where the company itself valued its shares significantly lower than its peak.
  • The future of Byju's and its overall valuation remains uncertain as the company navigates this complex financial landscape.

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