Byju's EGM: Shareholders don't object to raising authorised share capital

Shareholders of edtech major Think and Learn, owner of Byju's brand, raised no objection to the resolution to increase authorised share capital of the company in the extra-ordinary general meeting held on Friday, company sources said. According to the sources, none of the miffed investors, who proposed to oust Byju's founder and family from the management seat, took part in the meeting. "Meeting started at 10 am with approximately 20 investors representatives in attendance along with Think & Learn management. The requisite quorum required for EGM was there. Few questions regarding the postal ballot were asked and answered by the chairman and CS. Resolutions were called out. No objections raised," sources said. Byju's held the EGM (extra-ordinary general meeting) to increase authorised share capital of the company to complete the process for raising USD 200 million through rights issue. A group of four investors -- Prosus, General Atlantic, Sofina, and Peak XV -- along with support

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