Last month, Indian edtech giant secured $250 million from its existing investors Qatar Investment Authority (QIA) and Tiger Global. Recently, BYJU’S also secured a loan of INR 300 Cr from its subsidiary Aakash Educational Services Limited (AESL) at an interest rate of 7.5% per year.

Reportedly, the latest funding round might be a part of a bigger round worth $400-500 million which the edtech startup is looking to raise through convertible instruments.

Citing sources, the report said that TPG is one of the several investors the edtech giant is currently in talks with and the initial rounds of due diligence are already underway.

However, the discussions are still at an early-stage discussion. According to several reports, the previous round with QIA was also on similar terms, and the discussions are happening at BYJU’S last valuation of $22 Bn.

BYJU’S is reaching out to investors with two options, according to the aforementioned report. The investors can either choose to invest at a valuation of $22 Bn or opt for a convertible pre-IPO instrument at a 20% discount to the floor price of $22 Bn and a ceiling of $35 Bn.

The company is among India’s most valuable startups, having raised more than $6 Bn from over 70 investors. Interestingly, even as BYJU’S is looking to raise more funds, it has been unable to close the $800 Mn funding round it announced in March 2022 as some investors pulled out citing adverse global macroeconomic conditions.