New Delhi, Jan 29 : Think and Learn Private Limited (TLPL), the parent company of Byju's, on Monday announced to raise $200 million by way of a rights issue to all its equity shareholders, in its bid to achieve operational sustainability

The proposed rights issuance aims to fund the ongoing capital expenditure and support general corporate purposes, the company said in a statement. According to reports, the edtech major is going to raise funds at a drastic valuation cut of around $250 million, from its all-time high of $22 billion market valuation in 2022.