Byju’s says its lately launched $200 million rights situation has been fully-subscribed, however the startup’s founder urged a few of its main traders to take part amid a rift between the edtech group and a few of its largest shareholders.

The Bengaluru-headquartered startup, valued at $22 billion in its final financing spherical in early 2022, introduced final month that it will try to lift about $200 million by way of a rights situation. Byju’s lower the pre-money valuation ask within the rights situation to about $20 million to $25 million, TechCrunch earlier reported.

A bunch of traders, together with Prosus and Peak XV, have but to point out any curiosity in collaborating within the rights situation, in accordance with an individual accustomed to the matter. In the event that they don’t take part within the rights situation, they threat dropping almost all their stake in Byju’s.

“Our rights situation is absolutely subscribed and my gratitude to my shareholders stays sturdy,” founder and chief government Byju Raveendran wrote in a letter to shareholders Tuesday. “However my benchmark of success is the participation of all shareholders within the rights situation. We have now constructed this Firm collectively and I need us all to take part on this renewed mission. Your preliminary funding laid the inspiration for our journey and this rights situation will assist protect and construct larger worth for all shareholders.”

This can be a creating story. Extra to observe.