HSBC also reduced its valuation estimate for Meesho by 14 per cent to USD 2.5 billion and DeHaat by 11 per cent to USD 400 million
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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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