Veranda Learning IPO to open on March 29; sets price band of Rs130-137/ share

25 Mar 2022 , 12:15 PM

Veranda Learning Solutions announced that its IPO will open on March 29, 2022 and close on March 31, 2022. It has set a price band for its initial public offering at Rs130-137 a share.

The firm is planning to raise Rs200 crore through public issue.

The net proceeds of the offer will be utilised by the company for repaying of debts (Rs60 crore), payment of acquisition consideration of Edureka or repayment of a bridge loan availed specifically for the purpose of discharge of such acquisition consideration of Edureka (Rs25.2 crore), and growth initiatives (Rs50 crore).

The Company primarily provide services through online, offline hybrid and offline blended learning models. Their offline hybrid learning model involves classroom teaching supported with online assessments and access to self-paced learning material to enhance recall and retention. The Company’s offline blended model involves a mix of Online content and Offline delivery, wherein the centre delivers LMS Study Materials together with traditional class room experience of personal mentoring from Mentors, with a dedicated Mentor in each class room available for assistance to a Students. VLS’s offline hybrid and offline blended learning models offer traditional class room experience of personal mentoring from experienced Mentors along with highly curated digital content and online assessments.

The Book Running Lead Manager to the offer is Systematix Corporate Services Limited.

The equity shares are proposed to be listed on BSE and NSE.