IPO Issue Details
Issue Price / Price Band₹137 per share (Fixed Price)
Face Value₹10 Per Share
Lot Size100 Shares per Lot
Total Issue Size1,45,98,540 shares (aggregating up to ₹200.00 Cr)
Issue TypeBookbuilding IPO
Sale Type / CategoryFresh Capital
Exchange / PlatformNSE & BSE
IPO TypeMainboard
Subscription OpenTue, 29 Mar 2022
Subscription CloseThu, 31 Mar 2022
Anchor AllotmentMon, 28 Mar 2022
Basis of AllotmentTue, 05 Apr 2022
Initiation of RefundsWed, 06 Apr 2022
Credit of Shares to DematWed, 06 Apr 2022
Listing DateMon, 11 Apr 2022
UPI Mandate Deadline2022-03-31
Application & Investment Details
Retail — Min (1 Lots)₹13,700 — 100 shares
Retail — Max (13 Lots)₹178,100 (13 Lots)
HNI — Min (15 Lots)₹2,05,500 — 1,500 shares
Pre-IPO Promoter Holding4,11,76,979 shares
Post-IPO Promoter Holding5,57,75,519 shares
About Veranda Learning Solutions Ltd.
Incorporated in 2018, Veranda Learning Solutions Limited 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.The company offers coaching services for Railways Recruitment Board exams, Banking, and Insurance exams, State Public Service Commission, Staff Selection Commission exams, CA Foundation, CA Intermediate, and CA Final exams, Union Public Service Commission-prelims, and main exam, and personality tests, and State Public Service Commission Group-I exams, Short term skilling courses, Long term courses (university partnership courses) and Corporate learning courses (B2B). All the services are offered through its wholly-owned subsidiaries namely Veranda Race Learning Solutions Private Limited (Veranda Race), Veranda XL Learning Solutions Private Limited (Veranda CA), Veranda IAS Learning Solutions Private Limited (Veranda IAS), and Brain4ce Education Solutions Private Limited (Edureka).During the nine-month period ending December 31, 2021, a total of 42,667 Students and professionals have enrolled across all courses, out of which 16,793 enrolled for the offline model and 25,874 enrolled for the online model.Competitive Strengths:Proven track record of the company Promoters.Result-oriented method of teaching with a 360-degree approach.Diversified course offerings and delivery channels.Extensive experience in the education business and professionally qualified human capital.Strong Brand Presence of our brands.Track record of successful acquisition and expansion.Efficient infrastructure and resource management with strict quality control standards and affordable courses.Technology-driven, Asset Light & Scalable business model.Pandemic Proof Model.
Objects of the Issue
Veranda Learning Solutions Ltd. proposes to utilise the net proceeds from the Issue for the following objects:
1
1 Repayment or pre-payment, in part or full of all or certain of the borrowings
60.00
2
2 Repayment of a bridge loan availed specifically for the purpose of discharge of acquisition consideration of Edureka
25.19
3
3 Growth initiatives
50.00
4
4 General corporate purpose
47.73
Shareholding & Lock-in
Pre-IPO Promoter Holding
4,11,76,979 shares
Post-IPO Promoter Holding
5,57,75,519 shares
Lock-in Period (30%)May 5, 2022
Lock-in Period (50%)July 4, 2022