Veranda Learning Solutions shares will debut on NSE & BSE today

Shares of Veranda Learning Solutions will debut on the bourses, the NSE and the BSE, today, i.e. on Monday, April 11, 2022. The equity shares of Veranda Learning Solutions Limited shall be listed and admitted to dealings on the Exchange in the list of 'T' Group of Securities.

Shares of Veranda Learning Solutions Limited shall be listed at NSE and BSE in Special Pre-open Session (SPOS) on Monday, April 11, 2022.

The Rs 200-crore initial public issue (IPO) of Veranda Learning Solutions, an online and offline learning solutions provider, closed with 3.53 times subscription on Thursday, March 31, 2022. The share sale attracted bids for 4,15,55,000 equity shares as against 1,17,88,365 equity shares offered in the issue.

The issue garnered the most bid from the Retail Individual Investors (RIIs) as the portion reserved for RIIs) was subscribed 10.76 times as they placed bids for 1,65,60,300 equity shares against 15,38,461 equity shares in the offer.

The Qualified Institutional Buyers (QIBs) portion was subscribed only 2.02 times and the Non-Institutional Investors (NIIs) portion was subscribed 3.87 times.

Veranda plans to utilise proceeds from the IPO for repayment or pre-payment of certain borrowing and payment of acquisition consideration of Edureka or repayment of a bridge loan availed specifically for this acquisition. Proceeds of Rs 50 crore are aimed for growth initiatives by the company, meanwhile, a portion will be used for general corporate purposes as well.

Veranda Learning Solutions offers online and offline coaching services for career-defining courses such as UPSE, Chartered Accountant, Banking, and government exams to students, graduates, professionals, and corporate employees. There are no listed companies in India that engage in a business similar to that of Veranda.