This Low Market Cap Stock Is Raising 300 Crores through Preferential Offer Of Convertible Warrants And Equity

The education sector is ever growing industry in India, and most of the companies in this sector are one of the fastest growing sectors of India.

But in the past few weeks, many edtech companies and startups are facing a downfall in growth and revenue. However, some of the education sector companies are making good progress recently, and Veranda Learning Ltd is one of them.

In one of the latest announcements to the Bombay Stock Exchange, the company mentioned news of raising 300 crores through the preferential offer of equity shares and convertible warrants.

'Please find enclosed a copy of the press release regarding fund raising of Rs.300Crore through a Preferential offer of Equity Shares and Convertible Warrants. The fundraise is through a mix of preferential offer of 77,97,718 Equity Shares to non-Promoters and 20,00,000 Convertible Warrants to promoters at an issue price of Rs. 307 Per Share. Each Warrant is Convertible into 1 Equity Share within 18 months from the date of allotment' said the company in the announcement to the exchange.

Veranda Learning has been rising to the upside since it was listed in March 2022. The stock is on a clear uptrend in the chart, giving the early investors a good return on the investment from the past few weeks. The company is engaged is providing integrated and diversified learning solutions in offline and online hybrid. It provides comprehensive courses for Banking Insurance, UPSC Exams, Railways, Chartered Accountancy, and many more.