Byju’s promoters have sold shares worth $408.53 m in secondary deals wince FY16
- July 4, 2023
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Byju’s promoters have sold shares worth $408.53 m in secondary deals wince FY16
Subject :Economy
Section: Capital Market
Context: Byju’s promoters – Byju Raveendran, Divya Gokulnath and Riju Ravindran have been reported to have sold shares worth around $408.53 million in the secondary market since 2015.
Key Points:
- Raveendran’s brother and a member of Byju’s board Riju Ravindran sold shares worth $375.83 million since 2015, whereas Raveendran’s wife and co-founder Gokulnath sold shares worth $29.40 million.
- Meanwhile, Raveendran sold shares worth $3.28 million since 2015, while also purchasing shares from multiple sellers including members of his family and employees of the company since 2012
- Raveendran, in a recent mail to employees, also said that he has reinvested all the money received from the secondary sale of shares.
Secondary Market
Primary Market.
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How does a promoter enhance ownership or reinvest Promoters are given some special rights when it comes to investing in the company. This can take several forms, some of them being:
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