In July, Oyo raised $660 million to refinance existing debt, becoming the first Indian tech company to tap the TLB market. “Byju’s is working with American investment banks JP Morgan and Morgan Stanley to structure the TLB financing. Emails sent to Byju’s, JP Morgan and Morgan Stanley did not elicit a response. “US investors are warming up to Indian tech companies, and the TLB market is expected to see some more deals. As the Indian tech ecosystem has seen a dynamic shift following the pandemic and dozens of unicorns getting created, Indian tech companies have achieved significant scale to make them attractive for these institutional investors,” said the second person, also requesting anonymity.

Source: Mint October 25, 2021 23:43 UTC