Private Equity

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Byju's in talks to go public through Churchill SPAC deal at $48-B valuation

Economic Times  

Bengaluru-based edtech unicorn Byju's is considering a public market listing in the US through a merger with a special purpose acquisition company (SPAC). Michael Klein-promoted Churchill Capital has reportedly made an offer of investing USD 4 billion at a valuation of more than USD 48 billion in Byju's. This will make Byju's the most valued privately held startup in India. The Edtech Unicorn is also evaluating a domestic listing in the second half of calendar year 2022 and is in talks with bankers. The company was valued at USD 21 billion in November when it raised the first tranche of its intended USD 1.5 billion from investors. Byju's has spent more than USD 2 billion on acquisitions over the past few months.