Founder Baiju Ravindran is planning to increase his stake in ‘Byjusi’, which has grown into the world’s largest edtech company, to 40 percent. Baiju Ravindran, a Malayali, is trying to get back 15 percent of the shares from the existing shareholders.
He has also started efforts to raise money for this. Currently, Baiju and his wife Divya Gokulnath also have 25 percent stake.
The company is valued at $2,200 crore as of its latest capital raising. That is, it will be around Rs 1.80 lakh crore. Around 2,500 employees were recently laid off as part of a drive to boost profitability. It is five percent of the total employees of the company.