Nearly every top investment bank is chasing Byju’s and nudging the most valuable Indian startup to seriously explore the public markets as soon as next year.
Most banks have given Byju’s a proposed valuation in the range of $40 to $45 billion, but some including Morgan Stanley have pitched a $50 billion valuation if the startup lists next year, according to two people with knowledge of the matter.
The startup, which has raised $1.5 billion since the beginning of the pandemic last year, was most recently valued at $16.5 billion.
The banks’ excitement comes as the Indian public market has shown a glimpse of strong appetite for consumer tech