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Veranda Learning Solutions raises Rs 46.75 crore from anchor investors

Veranda Learning Solutions informed exchanges that they have finalised allocation of 34,12,500 equity shares to anchor investors, at an upper price band of Rs 137 per equity share.

March 28, 2022 / 10:43 PM IST
The company will utilise net fresh issue proceeds for repaying debts, payment of acquisition cost or loans related to Edureka, and growth initiatives.

The company will utilise net fresh issue proceeds for repaying debts, payment of acquisition cost or loans related to Edureka, and growth initiatives.

 
 
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Chennai-based learning solutions provider Veranda Learning Solutions on March 28 raised Rs 46.75 crore from three anchor investors, ahead of public issue launch.

The company informed exchanges that they have finalised allocation of 34,12,500 equity shares to anchor investors, at an upper price band of Rs 137 per equity share.

AG Dynamic Funds acquired Rs 25 crore worth of equity shares, Resonanace Opportunities Fund bought Rs 10 crore worth of shares, and Next Orbit Ventures have been allocated shares worth Rs 11.74 crore by the company, through anchor book.

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This would be the second public issue to be launched for subscription in March.

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The Rs 200 crore offer will open for subscription on March 29 and the final day for bidding would be March 31. The price band for the offer is Rs 130- Rs 137 per share.

Also read - Veranda Learning Solutions IPO opens tomorrow | 10 key things to know before subscribing to the offer

The company will utilise net fresh issue proceeds for repaying debts, payment of acquisition cost or loans related to Edureka, and growth initiatives.

Veranda Learning Solutions offers diversified and integrated learning solutions to students, professionals and corporate employees who appeared for career-defining competitive exams, professional courses, exam-oriented courses, short term upskilling and reskilling courses.



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Sunil Shankar Matkar
first published: Mar 28, 2022 10:43 pm
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