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BYJU’S’ investor Peak XV plans investment markdown over lack of visibility in financial results

Edtech giant BYJU’S’ investor Peak XV Partners, told its limited partners (LPs), or investors in its funds, on July 26 said it is marking down its investment in the company over lack of visibility into its audited financials. It, however, did not divulge any details on the value of the holdings that it is likely to cut.

“We will be marking down our investment in the company in the coming reporting cycle of the applicable Peak XV funds. The marking down of our investments reflects our lack of visibility into the company’s up-to-date audited financials and our inability to influence the company to take corrective measures,” Peak XV Partners, formerly Sequoia Capital India, told LPs in a letter, seen by CNBC-TV18.

BYJU’S regularly disregarded advice, says global investor Prosus

Heavy Rains News LIVE | Waterlogging in Delhi-NCR, Noida schools shut, Mumbai's Tansa Lake overflows

Heavy rains lashed parts of Delhi-NCR early Wednesday, with waterlogging being witnessed in several areas. Areas including Noida, Greater Noida, Ghaziabad and Gurugram received heavy rainfall. Besides, heavy downpour is expected in Mumbai, parts of Telangana, Andhra Pradesh, Uttarakhand, Himachal Pradesh, Uttar Pradesh and Karnataka. A flood alert has also been issued in Karnataka. In the wake of the rainfall alerts, schools have been shut in some districts of Karnataka, Telangana and Maharashtra.

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