HSBC, in a recent assessment of the company, revealed that it believes the $22 billion Byju’s is now worth zero, citing financial mismanagement, missed sales targets, governance issues, and the exit of key auditors and board members.

In a recent research report, HSBC calculated that the $22 billion valuation of the Indian edtech behemoth Byju's had now dropped to zero. BlackRock, one of Byju's investors, has also written off its investment on its own. According to their estimates, Byju's...