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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
With the US Federal Reserve indicating a rate hike as early as March and tech stocks taking a beating, the Indian edtech firm’s plan to go public may get pushed to the end of 2022 or even later.
Editor's note: Byju’s plan to list in the US through a special purpose acquisition company (SPAC) is yet to be sewn up. After months of negotiations with multiple SPAC partners—including advanced-stage talks with Michael Klein’s Churchill Capital—the company has still not finalized a partner and is looking at multiple options. Three people The Morning Context spoke with said that Byju’s public listing has hit a roadblock and might not materialize soon, or this year at all. On 16 December, Bloomberg reported that the Bengaluru-based company—India’s largest education technology company, with a valuation north of $21 billion—had discussed a SPAC merger with Michael Dell’s MSD Acquisition Corp. and Altimeter Capital Management, and was the farthest along in working out an agreement with Michael Klein’s Churchill Capital. Under the preliminary terms discussed, Byju’s would raise a total of about $4 billion and seek a valuation of about $48 billion, the people said. The startup was valued at $21 billion, according to market research firm CB Insights. While an announcement could come as soon as January, the negotiations are not final. Byju’s or Churchill could …
While the filing for an IPO by its telecom and digital business was the highlight, Reliance laid out plans for its new energy and retail businesses, setting them up for eventual listings.
As India’s largest stock exchange heads to the public markets, it may need to rethink its excessive reliance on transaction revenue.
As growth in equities cools, asset managers are looking to embed themselves in payrolls, payments, and credit. This raises their influence, but also the stakes.
