Veranda Learning IPO: Veranda Learning Solutions has fixed a price band of Rs 130-137 per share for its initial public offering. The firm had earlier announced that its IPO would open on March 29. The IPO by Learning Solutions Company will close on March 31, the basis of allotment will be finalized on April 5, refund and credit of shares in demat account will be started on April. 6 while the listing of the IPO is likely to happen by April 7.
Veranda Learning IPO: Price Band
The company has fixed a price band of Rs 130-137 per share. Prior to filing the red herring prospectus, Veranda Learning raised Rs 40 crore by issuing 30.8 lakh equity through a private placement to the public category.
Veranda Learning IPO: Reserves
According to the red herring prospectus, 75 per cent of the total offers are reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional bidders (NIIs) and the remaining 10 per cent for retail investors. BRLM is not affiliated with any offer in the last three years. The price/earnings ratio based on diluted EPS for fiscal 2021 for Veranda Learning Solutions is negative. Investors can bid for a minimum of 100 equity shares and thereafter in multiples of 100 shares. The promoters of the company were Kalpana S. Aghoram, Kalpana S. Ganesh and Kalpana S. Suresh is.
Veranda Learning IPO: Logic
Through this funding, the company intends to partially or fully repay or pre-pay all or some of its fixed borrowings up to Rs 60 crore. It will use Rs 25.19 crore to pay for the acquisition of Edurka and about Rs 50 crore for development initiatives. There is no listed company in India engaged in similar business of Veranda Learning Solutions.
Veranda Learning IPO: Lot Size
The lot size of Veranda Learning IPO market is 100 shares. A retail-individual investor can apply for up to 14 lots (1400 shares or Rs 191,800).
Veranda Learning IPO: Financials
For the six-month period ended September 2021, Veranda reported a loss of Rs 18.27 crore on a revenue of Rs 15.46 crore and a loss of Rs 8.28 crore in FY20 on a revenue of Rs 2.54 crore.
About the Company: Veranda Learning IPO
Veranda through four subsidiaries Veranda Race Learning Solutions, Veranda XL Learning Solutions, Veranda IAS Learning Solutions, and Brain4ce Education Solutions (Edureka) provides students, professionals and corporate employees with diverse and integrated learning solutions in online, offline hybrid and offline assorted formats provides. ) During the nine-month period ending December 31, 2021, a total of 42,667 students and professionals enrolled in all courses, of which 16,793 enrolled for the offline model and 25,874 for the online model. Systematics is the Book Running Lead Manager for Corporate Services Issues.
The company offers both long and short duration preparatory courses for students preparing for UPSC Exams, State Public Service Commission, Staff Selection Commission, Banking, Insurance, Railway and Chartered Accountancy. Veranda Learning also offers customized short term skills courses, long term courses and other corporate courses through its B2B offerings.
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