Veranda Learning Solutions Ltd has launched a Qualified Institutions Placement (QIP) to raise up to ₹380 crore, including a green shoe option of ₹30 crore.The issue price has been fixed at ₹225.20 per share, reflecting a 15.31% discount to Wednesday’s closing price.
CNBC-TV18 Newsbreak confirmed the launch
with sources telling the channel on July 16 that the fundraise had been initiated. Proceeds will be used to repay debt at subsidiary Veranda XL Learning Solutions Pvt Ltd and for general corporate purposes.
As of FY25-end, Veranda had borrowings and financial liabilities of around ₹870 crore. The company recently raised ₹48 crore via a preferential allotment to non-promoter investors.Shareholders had approved the enabling resolution in June, stating the move will enhance liquidity, accelerate growth, and ensure critical business arms are debt-free.
Ahead of the announcement, shares of Veranda Learning ended 2.41% higher at ₹264 on NSE on Thursday.
(Edited by : Shersh Kapoor)
