Macquarie Capital is slashing the value of its stake in Byju’s by about 98%, following criticism from Julius Baer Group Ltd. The move comes after Julius Baer accused Macquarie of charging fees based on an outdated valuation. Byju’s, once India’s most valuable tech startup, has seen a significant decline in its market value. This situation highlights the risks associated with private market valuations and the challenges in quickly repricing assets compared to publicly listed stocks. Julius Baer marked down its valuation of the feeder fund by 80% in December due to concerns regarding Macquarie’s position. The issue underscores the importance of maintaining transparency and integrity in investment partnerships.
Macquarie Capital Slashes Byju’s Stake Value by 98%, India
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