Meanwhile, global investment giant Prosus has written off the value of its shareholding in Byju's, recording a loss of USD 493 million
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The company's rapid expansion led to a cash shortage and a decline in valuation, resulting in multiple lawsuits in India and the US
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HSBC's latest note revealed that the ongoing cash crunch and multiple legal cases have rendered this investment worthless. Previously, HSBC had valued Prosus' stake by applying an 80 per cent discount to Byju's latest publicly disclosed valuation
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