Prosus marked down the value of its shareholding in Byju's to zero and noted loss in value of $493 million owing to investment in the edtech platform. Tech investor said in its FY24 annual report that it held a 9.6 per cent effective stake in Byju's before the company's rights issue. This comes as Prosus and other Byju's investors like Peak XV Partners have lodged legal challenges against the edtech company's management and its decisions. There are number of actions that the company’s management has taken. That is the first step," the company's management said.

Source: Hindustan Times June 24, 2024 18:34 UTC