Extraordinary general meeting of Bengluru-based Think and learn which runs edtech Byju's has concluded with no objection raised on the resolution to increase authorised share capital.
Byju's had invited dissenting investors to participate in its rights issue within the next 72 hours, according to a Money control report. The company had invited its major investors such as Peak XV Partners, General Atlantic, Chan-Zuckerberg Initiative, and Prosus, who previously attempted to block the rights issue and remove founder Byju Raveendran.
The report added that non of the four investor attended the EGM, which lasted about half an hour. However, approximately 20 investor representatives were present, along with Think and Learn management.
During the meeting, questions were raised regarding the postal ballot, which were addressed by Byju’s management, as per the report. Earlier, on March 29, Raveendran informed shareholders that the company received over 50 percent of votes in favor of increasing the authorised share capital in response to the postal ballot announced on March 7.
