Upgrad Closes Rs 300 Crore Rights Issue From Existing Shareholders And Founders

By Jessica On Apr 2, 2023

Ronnie Screwvala contributed Rs 212 crore

UpGrad operates out of 31 offices located in India, the US, the UK, the Middle East, Singapore and Vietnam.

Edtech firm Upgrad has announced raising of Rs 300 crore in a right issue led by co-founder and chairperson of the company Ronnie Screwvala.

According to a statement by the company, in this internal round, Temasek contributed Rs 81 crore and Screwvala contributed Rs 212 crore, while other minority stakeholders completed the balance.

An Upgrad spokesperson stated that the company is focused on its organic and in-organic growth across multiple verticals of formal education via degree, diploma and doctorate courses in partnership with the best universities in India and globally.

“Completing 22,000 placements into jobs just this year is a testament to our model and the high level of interactive deep learning we offer our learners and working professionals around the world.”

Upgrad operates out of 31 offices located in India, the US, the UK, the Middle East, Singapore and Vietnam.

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Namit Singh Sengar

Namit is Senior Sub Editor in the business vertical of News18.com. With over five years of experience, he covers personal finance, brands and economy.…Read More

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