Veranda Learning Pvt Ltd. Joins the IPO Bandwagon

India is witnessing a slew of IPOs in the recent past. From Zomato to Nykaa to LIC, some of the biggest names in their sector took a trip to Dalal Street in 2021.

Hence, other smaller companies, too, are looking to capitalise on the warm welcome others have met. On that note, let’s delve deeper into an IPO proposed by Veranda Learning Pvt Ltd.

Key Highlights of Veranda Learning Pvt. Ltd. IPO

• The IPO stated by Veranda Learning Pvt. Ltd. is for around Rs. 200 crores. It is primarily an issuance of equity shares as indicated in its draft red herringprospectus papers.
• Moreover, this company may also offer Rs. 50 crores in a private placement of equity shares.
• This Chennai-basedcompany is raising capital on Dalal Street to repay debt and acquisition retirement of Edureka.

About Veranda Learning Pvt Ltd.

Veranda  Learning Pvt. Ltd. is a Chennai-based company that provides learning solutions to students, businesses, and professionals. There are short and long term comprehensive courses in the following competitive exams:

• UPSC Exams
• State Public Service Commission
• Staff Selection Commission
• Banking
• Insurance
• Railways
• Chartered Accountancy

The founders incorporated this company on 20 November 2018. Directors of this company are Kalpathi Subramaniam Ganesh, Kalpathi Subramanian Suresh and Kalpathi Subramanyam Aghoram.

Further, the company’s share capital is Rs. 70,000,000, while the paid-up capital is Rs. 70,000,000.

In September, the company acquired Edureka. Edureka is an online platform for the IT industry. Veranda Learning Pvt Ltd. purchased Edureka for Rs. 245 crores. The acquisition of Edureka exposed Veranda Learning Pvt Ltd to global learning markets in the US and UK.

Previously, Veranda Learning Pvt Ltd had acquired Chennai Race Coaching Institute.

Bottom Line

Veranda Learning Pvt Ltd has filed its DRHP papers with SEBI. More details of this IPO will slowly come out in the coming days, so stay tuned for more information. Moreover, the equity shares will be listed on NSE and BSE.

Frequently Asked Questions

1. Who is the book running lead manager?

Ans. The book running lead manager is Systematix Corporate Services.

2. Who is the registrar to the offer?

Ans. KFin Technologie is the registrar to the offer.

3. What are the four subsidiaries of Veranda Learning Pvt Ltd?

Ans. The four subsidiaries of Veranda Learning Pvt. Ltd. are:

• Veranda Race Learning Solutions
• Veranda XL Learning Solutions
• Veranda IAS Learning Solutions
• Brain4ce Education Solutions