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New Delhi, Ed-tech titan <keyword id="3320944" type="General" weightage="20" keywordseo="Byjus" source="Orion">Byjus</keyword> is looking to sell its overseas ventures Epic and Great Learning to pay back its entire USD 1.2 billion (Rs 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 USD 800 million to USD 1 billion from the sale of Epic, the US-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 startup is hoping to repay the entire USD 1.2 billion term loan B (TLB) in under six months. Of this, it is proposing to repay USD 300 million in the next three months. Lenders have not yet responded to the proposal. Byju's in November 2021 raised USD 1.2 billion in debt through a term loan facility (TLB) from a group of overseas investors. A TLB is a type of senior secured syndicated credit facility that is issued by global institutional investors. Typically, the proceeds from a TLB are used to either refinance an existing debt or to make overseas acquisitions in order to enhance a company's offerings. Byju's had acquired Aakash USD 950 million in 2021. In July this year, the steering committee of ad hoc term loan lenders is reported to have agreed to amend the USD 1.2 billion term loan. The development comes after the company formed an advisory council with ex-Infosys CFO Mohandas Pai and Bharatpe Chairman and former SBI chief Rajnish Kumar after the exit of investors G V Ravishankar of Sequoia Capital (now Peak XV Partners), Vivian Wu of Chan Zuckerberg Initiative and Russell Dreisenstock of Prosus. Byjus had acquired Epic in a USD 500 million cash-and-stock deal in May 2022.

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

<ul><li>BYJU’S will work closely with the ICC to deepen engagement with fans through the creation of innovative campaigns.</li><li> In August 2019, the company became the official jersey partners of the Indian cricket team.</li></ul>The <keyword id="46227" type="ORGANIZATION" weightage="20" keywordseo="International-cricket-council">International Cricket Council</keyword> (ICC) announced BYJU’S their global partner from 2021 to 2023. The three-year agreement will see BYJU’S partner all ICC events over the period, including the forthcoming ICC Men’s T20 World Cup in India, and the ICC Women’s Cricket World Cup in New Zealand. As a global partner, BYJU’S will have extensive in-venue, broadcast, and digital rights across all ICC events. In addition to the integrated brand presence at some of the world’s biggest sporting events, BYJU’S will work closely with the ICC to deepen engagement with fans through the creation of innovative campaigns. In August 2019, the company became the official jersey partners of the Indian cricket team. Manu Sawhney Chief Executive, ICC said, "We are excited to have BYJU’S on board as one of our global partners and look forward to having a great innings together. Cricket is a sport where resilience, perseverance and conviction are crucial qualities and the partnership with BYJU’S will allow that to be fostered by a wider audience both young and old. BYJU’S has been an ardent supporter of cricket in India and we are glad to be partnering with a strong, young, and dynamic Indian brand that has been inspiring millions of students to dream big. We look forward to the successful convergence of education and sports and hope to reach the hearts and minds of millions of young cricketing enthusiasts through this partnership.” <keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword>, Founder and CEO, BYJU’S said, “We are excited to partner with ICC in championing world cricket. Sports is a big part of life for most Indians and cricket, in particular, holds a very special place in our hearts. It is a matter of pride for us as an Indian company to represent our nation on a global platform like this. Just as cricket inspires billions across the world, we too as a learning company hope to inspire the love of learning in every child’s life.”

ICC announces BYJU's as a global partner until 2023

<ul><li>Byju’s, India’s largest online tutoring <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> and a recent entrant to the ‘unicorn club’, is looking to expand to international markets with the its latest acquisition of US-based <keyword id="2251704" type="PERSON" weightage="20" keywordseo="osmo">Osmo</keyword>. </li><li>The acquisition comes just a month after Byju’s received fresh funding of $540 million that valued the company at $3.6 billion. </li><li>Other Indian unicorns testing international markets include Zomato, OYO rooms, PayTm. </li></ul>Byju’s, one of India’s largest online tutoring startups and a recent entrant to the ‘unicorn club’ -- startups valued at $1 billion and above-- is the latest to set its eyes on <a href="https://news.crunchbase.com/news/in-international-push-indian-edtech-company-byju-buys-osmo-for-120m/">expansion into international markets</a> Its $120 million acquisition of Osmo, a US-based startup that makes <keyword id="3423569" type="PERSON" weightage="20" keywordseo="educational-games">educational games</keyword>, is aimed at improving learning experience for kids by blending online tutoring through apps with offline games. The acquisition of Osmo comes just a month after Byju’s received fresh funding of $540 million that valued the company at $3.6 billion. Byju’s, founded in 2015, is also now the <a href="https://www.businessinsider.in/indias-largest-online-learning-service-is-all-set-to-become-the-4th-highest-valued-indian-startup-with-a-254-billion-valuation/articleshow/66474294.cms">fourth most</a> valuable startup in India. 
 <div type="image" title="Byju's 'unicorn club' story" msid="67586213" hostid="261"></div>



 Byju’s had been planning <a href="https://techcircle.vccircle.com/2019/01/16/byju-s-buys-ar-based-learning-platform-osmo-for-120-mn">overseas expansion</a> for a long time by collaborating with partners in the UK, Singapore and Australia, among others. The deal is expected to benefit both companies since Byju’s was seeking to also become a ‘content-driven platform’ aimed at a younger audience — kids of three to seven years of age are Osmo’s target market. While Byju’s apps mostly target school kids across grades 4-12 Byju’s eponymous founder Byju Raveendran <a href="https://news.crunchbase.com/news/in-international-push-indian-edtech-company-byju-buys-osmo-for-120m/">told</a> Crunchbase the company currently has over 1,000 people dedicated to video and game development. Other Indian unicorns in the league eyeing global expansion India’s growing unicorns are now aggressively looking to test overseas markets, keen to have a global presence, and many have already seen some success. The homegrown food delivery unicorn, Zomato, expanded internationally in 2012, starting with Dubai. Since then, the company has grown multifold with an array of acquisitions. In fact, Swiggy has been considering offshore expansion as well, but is currently focussed on <a href="https://www.entrepreneur.com/article/318201">hyperlocal services.</a> Bucking the general trend of international companies expanding in the Indian market last year, digital wallets company PayTm <a href="https://www.businessinsider.in/after-revolutionizing-transactions-in-india-digital-payments-company-paytm-seeks-to-conquer-japan/articleshow/66329611.cms">launched</a> its payments app ‘PayPay’ in Japan. The hotel chain, OYO rooms, has also had a great year in terms of <a href="https://inc42.com/features/2018-in-review-what-were-indian-unicorns-up-to-this-year/">international investments</a>. The company forayed into China, Japan, Spain and the UK among others. The company, with its offshore expansion, is looking to have nearly 2.3 million rooms internationally by 2023. See also: <a href="https://www.businessinsider.in/a-6-year-old-indian-startup-wants-to-be-worlds-biggest-hotel-chain/articleshow/67536612.cms">A 6-year-old Indian startup wants to be world’s biggest hotel chain</a> <a href="https://www.businessinsider.in/software-and-internet-companies-have-stepped-up-rd-spending-more-than-any-other-industry/articleshow/67449956.cms">Software and Internet companies have stepped up R&amp;D spending more than any other industry</a> <a href="https://www.businessinsider.in/the-indian-government-has-reportedly-invested-just-19-of-its-fund-dedicated-to-boosting-startups/articleshow/67323307.cms">The Indian government has reportedly invested just 19% of its fund dedicated to boosting startups</a>

Online tutoring startup Byju’s is the latest Indian ‘unicorn’ going global

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

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ICC announces BYJU's as a global partner until 2023

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Online tutoring startup Byju’s is the latest Indian ‘unicorn’ going global

BI India Bureau

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