Indian edtech titan Byju’s has made a surprise repayment proposal to lenders, in which the firm has offered to pay back its entire $1.2 billion term loan in less than six months, according to people familiar with the situation.

The company is offering to repay $300 million of the distressed debt within three months if the amendment proposal is accepted and the remaining amount in the subsequent three months, said the people, who asked not to be identified because the discussions are private. Byju’s is in talks with private equity funds and strategic investors to sell some of its overseas units to fund the repayment, they said.