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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>India contributes 12% of the world's3.8 billion internet users, while China has 21%, according to the Mary Meeker report.</li><li>The report credits Mukesh Ambani’s <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> for the unprecdented growth in data use in India.</li><li>Surprisingly, Indian edtech unicorn <keyword id="2900267" type="PERSON" weightage="20" keywordseo="Byju">Byju</keyword>’s too found a mention in the report.</li></ul>India continues to lead globally in number of internet users. According to the recent Mary Meeker <a href="https://www.thequint.com/tech-and-auto/tech-news/mary-meeker-report-2019-highlights-india">report</a>, India contributes to 12% of the world's 3.8 billion internet users while China holds 21%. US, on the other hand, has a total of 8%. The report attributed the unprecedented growth in data use in India to Mukesh Ambani’s Reliance Jio. Jio’s total number of users now stands at 306.7 million in India, according to a Telecom Regulatory Authority of India report, and that’s nearly 40% of India’s total subscriber base. Jio, the report said, had an annual data usage of almost 17 EB (exabytes) in 2018. Earlier reports also say that Jio’s last quarter results show that an average user is consuming 11 GB data per month and this will go up after 5G. A young star Another Indian company that found a mention in the Mary Meeker report is education unicorn Byju’s. The company had earlier reported that its revenue has tripled to reach ₹14.3 billion in the financial year ending March 2019, with its paid user base increasing to touch 2.4 million in numbers. The <a href="https://inc42.com/buzz/online-education-byjus-paid-students/">report</a> mentions that the online education sector has been growing rapidly over the past few years because of the rising cost of undergraduate tuition and increasing student loan debt. The eight-year old startup was founded by a teacher named Byju Raveendran in 2011 and has grown to be the fourth most valuable startup with its last <a href="https://yourstory.com/2019/03/byjus-funding-general-atlantic-tencent-2yv8bkk19e">reported</a> valuation standing at $5 billion. See Also: <a href="https://www.businessinsider.in/the-magic-number-that-vodafone-idea-airtel-and-jio-are-chasing-is-50-market-share/articleshow/69752746.cms">The magic number that Vodafone Idea, Airtel and Jio are chasing is 50</a> <a href="https://www.businessinsider.in/jio-adds-9-4-million-customers-vodafone-idea-and-airtel-lose-user-base/articleshow/69438812.cms">Jio adds 9.4 million customers in March – eats into Vodafone-Idea and Airtel's market share in India</a>

Mukesh Ambani’s Jio and a startup Byju's are in global spotlight as India’s internet users exceed that of US

<ul><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> aims to garner a GMV of ₹20,000 crore in FY 2020 from its <keyword id="6355445" type="UNKNOWN" weightage="20" keywordseo="education">education</keyword> vertical. </li><li>It will offer services across payments, commerce, financial and academia to students, parents and government job aspirants.</li><li>It has already partnered with the Railway Recruitment Board, Indian Navy, IITs, IIMs, NITs and more.</li></ul>Vijay Shekhar Sharma, the Founder of Paytm truly wants it all. The leading digital payments unicorn has now set its sights on the education sector. It will offer services across payments, commerce, financial and academia to students, parents and government job aspirants. Paytm wants a piece of the ₹100,000 crore education sector pie. And believes that it can gain Gross Merchandise Volume of ₹20,000 crore in 2019-20, from education alone. The digital payments company is not just offering services for payments but many more to help students. “Right from providing details on 25,000 colleges, schools, courses and exams, our bouquet of services will include – payments (in-app and in educational centres), commerce (coaching, scholarships, test preparation, admission forms etc.) and financial services (student insurance, educational loans, easy EMI, and banking),” said Vineet Kaul, Senior Vice President - Paytm. To enable this, the company has partnered with Railway Recruitment Board, Maharashtra Public Service Commission, National Testing Agency, Indian Navy, Amity, VIT, Manipal, AKTU, Army Public Schools, Delhi Public Schools, Delhi University, IITs, IIMs, NITs, Aligarh Muslim University, AIMA, ICAI, Narayana Group, Career Launcher, Made Easy, Career360 and several others. Paytm already offers options to schools and colleges to accept fees via Paytm app. It is now hoping to bring onboard 350 million more users from 20,000 private schools, 1,000 higher educational institutes and 1,000 coaching institutes. The Indian education sector is expected to reach a size of $5.7 billion by 2020. The sector is also brimming with startups like the unicorn Byju’s, Unacademy and more. They have been raking in users, business in addition to attracting investors.

Paytm education will help students and government job aspirants with education loans and coaching

<ul><li>In a board meeting today, <keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword> approved to issue non-convertible debentures for upto ₹650 crore.</li><li><keyword id="44950" type="PERSON" weightage="20" keywordseo="Kishore-Biyani">Kishore Biyani</keyword> led Future <keyword id="6354851" type="UNKNOWN" weightage="20" keywordseo="retail">Retail</keyword> has rising debts as well as loss in revenue due to the coronavirus pandemic in its increasing list of problems.</li><li>Future Consumer is currently looking to raise ₹300 crore through a rights issue.</li></ul>Kishore Biyani led Future Retail is looking to raise money through cheaper loans to repay some of its debt that has piled up to nearly $2 billion. Investors cheered the approval from the Board of Directors and the stock of Future Retail, which runs <keyword id="6357823" type="UNKNOWN" weightage="20" keywordseo="big-bazaar">Big Bazaar</keyword>, Eazyday stores across India, jumped as much as 5% <div type="image" title="future retail latest." msid="76029094" hostid="261"></div> In a board meeting today, Future Retail approved to issue non-convertible debentures for upto ₹650 crore. The filing on the stock exchange says that it will be done in “one or more tranches from time to time mainly to replace its existing high cost current or near term maturity debts requirements.” Biyani has been struggling to find investors for some time now. Future Consumer is currently looking to raise ₹300 crore through a rights issue. By March 2020, ratings agency ICRA had already placed a negative rating on Biyani’s company because of its debt. “Icra notes the increase in debt is mainly on account of an increase in debt of the operating companies, with the total debt at the group’s listed companies increased to ₹12,778 crore as on 30 September 2019 from ₹10,951 crore as on March 31, 2019," the rating agency said. The rising debt is coupled with the problems from the coronavirus pandemic where Future Retail has seen its revenues take a serious hit. In the third quarter of FY20 ending December 2019, Future Retail posted a 15% fall in profit and a 3% fall in revenue. The disruptions due to COVID-19 pandemic will only make it worse. The chain of stores don’t just sell grocery but a major source of its revenue comes from its apparel section which saw no sales for the lockdown period. ““Future Retail is only able to sell its lower-margin essential items, which has led to monthly sales declining by around 75% in March and April 2020 from normal levels, and continues to limit Future Retail’s ability to generate cash to meet working capital requirements,” <a href="https://www.forbes.com/sites/anuraghunathan/2020/05/15/indian-retail-pioneer-faces-stress-test-amid-coronavirus-pandemic/#77e2274a11ae">Fitch reportedly said citing ‘substantial risk’ to its rating.</a> See Also: <a href="https://www.businessinsider.in/business/startups/news/byjus-co-founder-reveals-that-revenue-has-doubled-to-2800-crore-in-a-year-and-that-is-just-the-start-of-a-glorious-run/articleshow/76026424.cms">EXCLUSIVE: BYJU’s co-founder reveals that revenue has doubled to ₹2800 crore in a year⁠ — and that is just the start of a glorious run</a>

Future Retail is looking to get cheaper loans to pay off old debts⁠— that’s good enough for the stock to jump 5%

<ul><li><keyword id="1106616" type="General" weightage="20" keywordseo="truecaller" source="Orion">Truecaller</keyword> is now looking to introduce a set of features that will allow users to respond to business calls without really picking them up.</li><li>The upcoming feature would allow the customers to let such businesses know whether they are interested in their offering.</li><li>The company had also launched the ‘reason for call’ feature for businesses last year to enable effective communication between customers and companies.</li></ul>The constant unsolicited calls from insurance companies, credit card companies and loan providers are extremely annoying, to say the least. In a bid to improve business communication, Truecaller is now looking to introduce a set of features that will allow users to rate such calls and respond to them without really picking them up. Priyam Bose, the Global Head for Go to Market at Truecaller for Business, noted several businesses keep on blindly calling the customers and such feedback could help them optimise their communication in a much more efficient manner. The upcoming feature would allow the customers to let such businesses know whether they are interested in their offering through automated messages like ‘please don’t call me back’ or ‘call me back later’. This feature will make it much simpler for users to let businesses know whether they are the right target audience for them. Such a feature does exist on Truecaller and phones for peer-to-peer calls. However, the customer service numbers of companies are usually one-way and do not allow customers to send messages or call back. Truecaller’s latest feature would be targeted for those customer services only. Secondly, the feature would be enabled for verified businesses that are represented by the green popup on the Truecaller app. Companies pay for this verification to let the customer know that they are a verified business and gain their trust. The feature is a part of Truecaller’s plans to enable reverse communication, which will reduce spam and allow both businesses and their customers to communicate with each other in an optimized manner. The company had also launched the ‘reason for call’ feature for businesses last year, where businesses could cite their reason for calling the customer. Bose told Business Insider, “today we are solving for the first leap of it, where business is making that communication by calling. Then tomorrow the tools will further enable the users to communicate back to those businesses.” The company is still working on the feature and has not decided on a timeline to launch it. Notably, India is the biggest market for Truecaller. About 73% — or 205 million — of its 278.1 million monthly active users are from India. It also counts companies like Uber India, Swiggy, Airtel, Flipkart, Byju’s, Urban Company, HDFC Bank, and Unacademy, among others, as its key customers. The country contributes about 69% to its overall revenue. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/hdfc-to-sell-10-stake-in-its-private-equity-real-estate-firm-to-abu-dhabi-investment-authority/articleshow/90950731.cms">HDFC to sell 10% stake in its private equity real estate firm to Abu Dhabi Investment Authority</a> <a href="https://www.businessinsider.in/finance/banks/news/hdfc-out-of-top-10-largest-companies-in-india/articleshow/90933474.cms" style="">HDFC twins wipe out ₹2.5 lakh crore investor wealth, push HDFC out of top 10 largest companies in India</a> <a href="https://www.businessinsider.in/business/telecom/news/jiofiber-plans-with-free-installation-free-set-top-box-and-free-router-announced-plan-details-prices-and-everything-else-you-need-to-know/articleshow/90939082.cms" style="">JioFiber plans with free installation, free set top box and free router announced – plan details, prices and everything else you need to know</a>

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

PTI

Mukesh Ambani’s Jio and a startup Byju's are in global spotlight as India’s internet users exceed that of US

Sanchita Dash

Paytm education will help students and government job aspirants with education loans and coaching

Sanchita Dash

Future Retail is looking to get cheaper loans to pay off old debts⁠— that’s good enough for the stock to jump 5%

Sanchita Dash

Truecaller is working on a new feature to help tackle unsolicited calls from insurance companies, loan providers

Kritti Bhalla

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