Byjus proposes sale of overseas units to repay $1.2 bn loan

Byju's looks to sell Epic, Great Learning to repay $1.2B loan; hopes to garner $800M-$1B. Firm also working on raising fresh capital, sale of assets to strategic investors. Hopes to repay entire loan in under 6 months, $300M in 3 months.

Ed-tech titan Byju’s is looking to sell its overseas ventures Epic and Great Learning to pay back its entire $1.2 billion (₹9,956 crore) loan to lenders, a source familiar with the matter said.

The ed-tech decacorn has been in discussions with the lenders and has made a proposal to clear its Term B loan, the source said.

Byju's hopes to garner between $800 million to $1 billion from the sale of Epic, the U.S.-based kids learning firm, and Great Learning - the upskilling platform.

The firm is also working on raising fresh capital from equity sales, and is working with bankers for the sale of the aforementioned key assets to strategic investors -- which has also garnered interest, the source said.

An email sent to the ed-tech platform for comments remained unanswered.

India's most-valued start-up is hoping to repay the entire $1.2 billion term loan B (TLB) in under six months. Of this, it is proposing to repay $300 million in the next three months.

Lenders have not yet responded to the proposal.