Byju Raveendran, the company’s founder and CEO, has sold 29,306 shares for a total value of $3.28 million since 2015.
According to research and data portal PrivateCircle, Byju’s CEO Raveendran, co-founders Divya Gokulnath and Riju Ravindran, the promoters of the troubled edtech giant, have sold shares for a combined $408.53 million in 40 secondary transactions since 2015.
In circumstances where the secondary share price was not available, PrivateCircle used the nearest available primary share price and examined multiple public data sources to draw its conclusions.
In answer to a question about the secondary share sales, a company representative informed business daily ET that “Byju’s promoters have put the entire secondary sale proceeds back into the business to scale it up further over the years.”
Since 2015, Byju Raveendran has sold 29,306 shares for a total of $3.28 million, while his co-founder Divya Gokulnath and brother Riju Raveendran have each sold 64,565 shares for a total of $29.40 million and 337,911 shares for a total of $375.83 million.
Silver Lake Partners, Blackrock, T Rowe Price, Chan Zuckerberg, Owl Ventures, Naspers, Times Internet, Lightspeed Ventures, Proxima Beta, Naspers Ventures, General Atlantic, and Alkeon were among the investors that took part in Byju’s secondary deals.
Byju Raveendran, the company’s founder and CEO, has sold 29,306 shares for a total of $3.28 million since 2015. In contrast, his wife and co-founder, Divya Gokulnath, sold 64,565 shares for a total of $29.40 million, while his brother, Riju Raveendran, sold 337,911 shares for a total of $375.83 million.
Chan Zuckerberg, Owl Ventures, Naspers, Silver Lake Partners, Blackrock, T Rowe Price, and others were among the investors who took part in Byju’s secondary deals.
Silver Lake Partners, Blackrock, T Rowe Price, Chan Zuckerberg, Owl Ventures, Naspers, Times Internet, Lightspeed Ventures, Proxima Beta, Naspers Ventures, General Atlantic, and Alkeon were among the investors that took part in Byju’s secondary deals.
According to a recent Mint article, a regulatory loophole in the framework for auditors was revealed by Deloitte Haskins & Sells Llp resignation as the auditor of Think and Learn Pvt. Ltd., which managed the online learning platform.
The regulation of audit supervision Regardless of their size, private limited firms are not covered by the National Financial Reporting Authority (NFRA), which only covers statutory auditors of publicly traded corporations, banks, insurers, power utilities, and large unlisted public limited companies.
As a result, NFRA has a difficult time investigating the departure of the auditor in this case and its concerns over the delay in financial reporting.
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