Is BYJU'S profitable?

No. BYJU'S reported revenue of ₹5,298 Cr in FY2021-22 (up from ₹2,511 Cr in FY2020-21) but posted a net loss of ₹4,564 Cr in the same year. The company pursued aggressive growth at heavy cost, spending extensively on marketing, acquisitions, and hiring. It never achieved profitability and the financial losses contributed to its crisis by 2023-24.

What acquisitions did BYJU'S make?

BYJU'S made several major acquisitions at its peak: Aakash Educational Services (offline test prep, 2021) for approximately $950 million, WhiteHatJr (coding for kids, 2020) for $300 million, Great Learning (professional upskilling, 2021) for $600 million, Toppr (2021) for ~$150 million, and Epic (US children's reading app, 2021) for $500 million.

Is BYJU'S planning an IPO?

BYJU'S had long-discussed IPO plans, initially targeting a listing by 2022-23. However, given the severe financial crisis, insolvency proceedings, and governance disputes that emerged from 2023, an IPO is no longer feasible in the near term. The company's focus shifted entirely to resolving creditor claims and restructuring operations.

How do I buy BYJU'S (Think and Learn) unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

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How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

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BYJU'S (Think and Learn) Unlisted Share Price | Buy BYJU'S (Think and Learn) Pre-IPO Shares — wisefolio

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BYJU'S (Think and Learn) Unlisted Share Price | Buy BYJU'S (Think and Learn) Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

Think and Learn Private Limited (BYJU'S) was once the world's most valuable edtech company at $22 billion valuation but experienced one of the most dramatic corporate collapses in Indian startup history. With FY22 losses of ₹4,564 Cr, insolvency proceedings under IBC from 2024, US lender disputes over $1.2 billion, and severe governance failures, the company's survival as a going concern is uncertain. The unlisted share price of ₹205 reflects extreme speculative positioning with very high downside risk.

Pros

At its peak, BYJU'S (Think and Learn Pvt Ltd) was valued at $22 billion (approximately ₹1,80,000 Cr) making it the world's most valuable edtech company
Built one of India's largest K-12 online learning platforms with over 150 million registered students globally and 7 million paid subscribers at peak
Diversified through strategic acquisitions including Aakash Educational Services (offline test prep), WhiteHatJr (coding), Toppr, and Great Learning, creating a comprehensive education ecosystem

Cons

Reported a net loss of ₹4,564 Cr in FY2021-22 against revenue of ₹5,298 Cr, reflecting an unsustainable cost structure driven by aggressive marketing and expansion
Faced severe financial distress from 2023 onwards with creditor disputes, employee salary delays, investor conflicts, and legal proceedings from US lenders over a $1.2 billion Term Loan B
Multiple investors including Prosus and Peak XV (formerly Sequoia India) moved to oust founder Byju Raveendran in 2024 amid governance concerns, and the company's valuation collapsed from $22 billion to near zero

Business Segments

BYJU'S App (K-12)

Core digital learning platform for students in grades 1-12 with video lessons, personalized learning paths, and adaptive assessments

Aakash Educational Services

Offline and hybrid test preparation for medical (NEET) and engineering (JEE) entrance exams with ~300+ centers across India

WhiteHatJr

Live 1-on-1 coding classes for children aged 6-18 years

Great Learning

Professional upskilling and higher education programs in data science, AI, management, and technology

Exam Prep / BYJU'S Tuition Centres

Offline tuition centres and competitive exam preparation for UPSC, CAT, and other exams

Revenue Model

BYJU'S generated revenue through subscription-based access to its digital learning content (BYJU'S App), tuition fees from Aakash offline centers, per-class fees for WhiteHatJr, and course fees from Great Learning professional programs. The company also sold physical learning kits and tablets loaded with content.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds7

Growth Plans

Potential sale of Aakash Educational Services (valued at ~$950 million at acquisition) to repay creditors could provide liquidity

India's edtech market continues to grow, and BYJU'S brand retains some recognition despite crisis

Industry Tailwinds

Potential sale of Aakash Educational Services (valued at ~$950 million at acquisition) to repay creditors could provide liquidity

Recent Developments

Auditor Deloitte Resigned

Deloitte resigned as BYJU'S statutory auditor, citing inability to complete audit procedures, a significant governance red flag.

2023-06

US Lenders Default Declaration

US lenders under the $1.2 billion Term Loan B declared an event of default, triggering legal proceedings in multiple jurisdictions.

2023-09

Investor Move to Oust Founder

Major investors including Prosus, Peak XV, and others called an EGM attempting to remove Byju Raveendran as CEO amid governance and financial concerns.

2024-02

Comparable Companies

CompanyTypeTickerMkt Cap

Vedantu Innovations Pvt LtdUnlisted—~$600 million (last known private valuation)

PhysicsWallah Pvt LtdUnlisted—~$2.8 billion (2022 valuation)

Unacademy (Sorting Hat Technologies)Unlisted—~$3.4 billion (peak valuation)

Info Edge India Ltd.PE: ~80xxListedNAUKRI~60,000 Cr

Frequently Asked Questions

Think and Learn Private Limited is the parent company of BYJU'S, India's largest edtech platform founded by Byju Raveendran in 2011. It provides K-12 online learning, test preparation for competitive exams (JEE, NEET, CAT, IAS), and coding education through its flagship BYJU'S app, Aakash Educational Services, WhiteHatJr, and other acquired brands. At its peak, it had over 150 million registered users globally.

BYJU'S was founded and primarily led by Byju Raveendran (CEO and co-founder) along with his wife Divya Gokulnath (Director and co-founder). Byju Raveendran held a significant controlling stake though diluted through multiple funding rounds. Major investors include Prosus (Naspers), Sequoia India (Peak XV), Tiger Global, General Atlantic, Chan Zuckerberg Initiative, Tencent, BlackRock, and the Qatar Investment Authority.

BYJU'S reached a peak valuation of $22 billion (approximately ₹1,80,000 Cr) in 2022, making it the world's most valuable edtech company. However, following severe financial distress, investor disputes, and governance failures from 2023 onwards, the company's effective valuation collapsed. By 2024, it was embroiled in insolvency proceedings and creditor disputes, with its valuation effectively approaching near zero.

From late 2022, BYJU'S faced a cascading financial crisis: it delayed filing FY22 audited results (filed in 2023 showing ₹4,564 Cr loss), faced disputes with US lenders over a $1.2 billion Term Loan B, delayed employee salaries, saw auditor Deloitte and board members resign, and entered insolvency proceedings under India's IBC in 2024. The BCCI (India's cricket board) and US lenders were among creditors pursuing recovery.

About BYJU'S (Think and Learn)

Think and Learn Private Limited, operating as BYJU'S, was India's most valuable edtech startup — once the world's most valuable edtech company. Founded in 2011 by Byju Raveendran and his wife Divya Gokulnath in Bengaluru, Karnataka, BYJU'S built a remarkable empire offering K-12 online learning, test preparation (JEE, NEET, CAT, IAS), and global EdTech services across more than 100 countries. At its peak in 2022, BYJU'S was valued at approximately USD 22 billion, with investors including Prosus, General Atlantic, Peak XV Partners (formerly Sequoia India), Chan Zuckerberg Initiative, Tiger Global, and Naspers. The company expanded aggressively through acquisitions — including Aakash Educational Services for approximately USD 950 million, WhiteHat Jr for USD 300 million, Great Learning for USD 600 million, and Epic! for USD 500 million. However, the company's trajectory collapsed dramatically. A series of governance controversies, delayed financial filings, alleged misuse of funds, and aggressive investor-borrower disputes culminated in the National Company Law Tribunal (NCLT) admitting an insolvency petition on July 16, 2024, filed by the BCCI over unpaid dues of Rs 158 crore. Pankaj Srivastava was appointed as the Interim Resolution Professional (IRP). The Supreme Court of India later set aside an NCLAT order that had halted the insolvency proceedings, paving the way for the Corporate Insolvency Resolution Process (CIRP) to continue. As of 2025, Think and Learn Private Limited remains under active insolvency proceedings. Byju Raveendran's net worth, once estimated at Rs 17,545 crore, fell to zero per Forbes' 2024 Billionaire Index. The company had previously reported revenues of over Rs 10,000 crore and a student base exceeding 150 million registered users and 5.5 million paid subscribers. Despite the insolvency proceedings, the BYJU'S brand and educational content platform remain significant assets that could potentially be acquired through the resolution process.

Key Milestones

Founded in 2011 by Byju Raveendran in Bengaluru as Think and Learn Pvt Ltd

Common questions about unlisted shares

How do I buy BYJU'S (Think and Learn) unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

Think and Learn Private Limited

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