upGrad has allotted 5 lakh non-convertible debentures at face value of INR 1000 per share to IIFL Income Opportunities Fund The debt raise comes a month after the company announced that it would revoke salary cuts for employees. upGrad, like most Indian edtech startups, claimed to have witnessed a spike in users during the lockdown.
upGrad Raises INR 50 Cr Debt From IIFL Income Opportunities Fund
Date posted: Thursday 13 August 2020