News Update

upGrad eyes IPO in next 24 months

• ByStartupStory     |    December 13, 2021

UpGrad Education, a dtech company that joined the Unicorn Club earlier this year, is considering an initial public offering (IPO) within the next 1,824 months,  senior executives said.

 The company has  raised $ 185 million from investors so far. This is the lowest amount of any major competitor. 

 In August, the company completed a $ 185 million round of funding  from Temasek Holdings Ltd, International Finance Corp (IFC), and IIFL Group at a valuation of $ 1.2 billion for unicorns or $ 1 privately owned companies. Added to the list. Over a billion. 

 “I didn’t drink much water at first, so I have a lot of flexibility to stick to our beliefs and strategies so that others (investors) aren’t distracted by what they want from us. “Chairman and co-owner Ronnie Screwbara said. Founder of UpGrad. The 

 The founders currently hold more than 70% stake, and Screwvala says the company could drop to 51% when it’s ready to go public. 

 In his opinion, growing an educational technology company does not require a lot of capital. 

 “It doesn’t cost billions of dollars to build a  business that defines a category like us. Personally, ROCE (return on capital use) is important, both as a buyer and as an acquirer. I found out, “he said. “I was able to try to go one or two more rounds before it went public,” added Screwvala. According to Screwbara, the company has no  plans to raise money immediately, despite growing interest  in funding. However, according to 4,444 known sources, the company has put together a large round of $ 300 million to $ 350 million, and the company estimates it to be about $ 3.5 billion. However, according to 4,444 known sources, the company has put together a large round of $ 300 million to $ 350 million, and the company estimates it to be about $ 3.5 billion. 

 The company  currently has annual sales of $ 250 million and  is expected to grow to $ 500 million by FY2011. 

 “I don’t want the company to be listed as a small or medium-capitalization stock, so I don’t want it to reach a critical mass before it goes public,” says Screwvala.

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