Secondary offerings involving a quarter of their total shares between 2016 and 2021 earned them over $100 million.
As on 31 March 2016, Think & Learn Pvt. Ltd, the parent company of Byju’s, had three main promoters: Founder and CEO Byju Raveendran, his brother Riju Ravindran and Byju’s wife, Divya Gokulnath. Together, they held 1,274,738 (723,608, 341,620 and 209,510 shares, respectively) out of 1,385,946 shares.
Over the next five years, as the Bengaluru-based company’s valuation rose 28x, the founders, led by Riju Ravindran, liquidated 325,313 shares, more than 25% of their holding in March 2016, documents accessed from the website of India’s Ministry of Corporate Affairs show. People who spoke to The Morning Context, on the condition of …
Ashish is the editor-in-chief of The Morning Context. One of the best-known business feature writers in India, he was selected for Germany’s Robert Bosch Stiftung Fellowship in 2012 and received the Mumbai Press Club RedInk certificate of recognition in 2015 for his story “Inside the Network 18 takeover”. Before joining The Morning Context, Ashish co-founded The Ken, where he was managing editor. His previous writing stints include Mint, Forbes India and The Economic Times.
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ashish@mailtmc.com
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Pradip is a co-founder at The Morning Context and leads our newsletters vertical. He has previously worked at The Ken as a staff writer, at Mint as an assistant features editor and the Deccan Chronicle as a copy editor. He works with a slew of expert newsletter writers across subjects and domains. His own writing spans the gig economy, farmers caught in the crossfire of technology, global warming and parents trapped in the edtech wave. Some of his best stories have come at the intersection of technology and human endeavour.
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pradip@mailtmc.com
Delhi