Byju’s to Accelerate IPO Plans as India Tech Booms
- Startup aims to raise as much as $600 million before IPO
- Company is most valuable startup in India at $16.5 billion
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India’s most valuable startup, the online education provider Byju’s, is in talks to raise between $400 million to $600 million and then accelerate plans for an initial public offering next year, according to people familiar with the matter.
The Bangalore-headquartered company could close the pre-IPO fundraising in a few weeks at a valuation of about $21 billion, said one of the people, asking not to be named because the details are private. The fundraising is likely to be split roughly evenly between equity and debt.