Veranda Learning IPO to open on March 29, price band set at Rs 130-137

NEW DELHI: Veranda Learning's Rs 200 crore initial public offer (IPO) will open for subscription on March 29. The company has set a price band for the issue at Rs 130-137 per share.

The IPO by the learning solutions company will close on March 31, the basis of allotment will be finalised on April 5, refunds and credit of shares to demat account will be initiated on April 6 while the IPO listing is likely by April 7.

As per the red herring prospectus, 75 per cent of the issue will be reserved for qualified institutional investors, another 15 for non-institutional bidders and the rest for retail investors.


Through this funding, the company intends to repay or pre-pay, in part or full of all or certain borrowings up to Rs 60 crore. It will use Rs 25.19 crore towards payment of acquisition of Edureka and about Rs 50 crore towards growth initiatives.

Veranda Learning Solutions is engaged in diversified and integrated learning solutions in online, offline hybrid and offline blended formats to students and corporate employees.

The company provides long and short term preparatory courses for students preparing for UPSC exams, state public service commission, staff selection commission, banking, insurance, railways and chartered accountancy.

Veranda Learning also provides customized short term skilling courses, long term courses and other corporate courses through its B2B offerings.