Veranda Learning Solutions’ Rs. 200 Crore IPO To Open On March 29: Check Details

Even as the primary market activity has come to a standstill amid heightened volatility on Dalal Street, IPO of Veranda Learning Solutions is lined up for launch. The offer period for the public issue is March 29- March 31, 2022. The price band for the Rs. 200 crore public issued has been fixed at Rs. 130-137 per share. The BRLM to the issue is Systematix Corporate Services, while the registrar is Kfin.

The proceeds from the issue will be deployed towards financing the repayment or pre-payment of the company's liabilities in full or part of Rs. 60 crore, the payment in lieu if acquisition of Edureka or repayment of a bridge loan taken specially for paying off the acquisition consideration of Edureka amounting to Rs. 25.2 crore, growth initiatives (Rs 50 crore), as well as for other general corporate purpose.

Of the total offer, up to 75% portion is reserved for QIBs or qualified institutional buyers, 15% for non-institutional bidders (NIIs), and the balance 10 per cent for retail investors. Investors can apply for a minimum of 100 shares and in multiples of 100 shares thereafter.

Veranda Learning before filing the red herring prospectus (RHP) mopped up Rs. 40 crore by issuing 30.8 lakh shares through a private placement to the public category.

About Veranda Learning

Veranda Learning is a digital learning set up that offers a multitude of career defining courses. All of these courses are offered via Veranda Race Learning Solutions Private Limited and Veranda CA Learning Solutions Private Limited which are 100% subsidiary companies of Veranda Learning Solutions Private Limited. The courses are being offered in online, offline and hybrid modes to students, graduates, professionals as well as corporate employees.