Dutch technology company’s annual report writes off $500 million investment in this Indian company to Zero

Dutch-listed technology investment company Prosus took a major hit on its Byju’s bet, wiping out the value of its 9.6% stake in the Indian edtech company. This move, announced in their fiscal year 2023-24 report, reflects Byju’s ongoing financial woes.
Prosus cited a “significant decrease in value for investors” for writing off the stake, which translates to a $493 million loss.