Prosus, a Dutch investment firm, has written off its entire USD 578 million investment in edtech company Byju's. The firm lost significant influence on Byju's after its stake fell to 9.6%.
New Delhi, Jun 24 (PTI) Dutch investment firm Prosus has written off USD 578 million (about Rs 4,800 crore) that it invested in edtech firm Byju's, the company said on Monday.
In September 2022, Prosus had lost significant influence on Think and Learn, which owns Byju's brand, as its stake in the edtech firm came down to 9.6 per cent.
"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," Prosus said in its annual report for the fiscal year ended 2024.
Prosus is among the four investors that have approached the NCLT against Byju's management and its USD 200 million rights issue.
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