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Netherlands-based Prosus, which is one of the biggest stakeholders in BYJU'S, has now written off its entire investment in the Bengaluru-based edtech startup. In a recent document, Prosus holds almost 10% (9.6%) in the edtech startup

"We impaired BYJU'S down to zero at the end of FY24. The fair value written down was $493 Mn for FY24. We have written down BYJU'S primarily because we have inadequate information on the company's financial health, liabilities and future outlook," Prosus shared in a press statement with Inc42.

Prosus has invested around $536 Mn in BYJU'S since 2018. At BYJU'S peak valuation - $22 Bn, Prosus 9.6% stake would be worth roughly around $2.2 Bn.

The fresh development comes close on the heels of financial firm HSBC casting serious doubt on the future of BYJU'S, assigning zero value to Prosus' nearly 10% stake in the company.

"We assign zero value to BYJU'S stake amid multiple legal cases and funding crunch," HSBC said in a note on May 21.

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