About the Company:
Veranda Learning Solutions Ltd is engaged in the business of offering diversified and integrated learning solutions in online, offline hybrid and offline blended formats.
Company provide comprehensive long term and short term preparatory courses in a simple and lucid manner for Students preparing for UPSC Exams, State Public Service Commission, Staff Selection Commission, Banking, Insurance, Railways and Chartered Accountancy.
Company also provide customised short term skilling courses, long term courses and other corporate courses to our Learners. Company also deliver these courses to employees of corporates through B2B offerings.
During the nine month period ending December 31, 2021, a total of 42,667 Students and professionals have enrolled across all our courses, being 16,793 in offline models and 25,874 in online model.
During the nine month period ending December 31, 2021, company had overall employed 8 Student advisors, 166 Mentors and operate 25 PDCs across 25 cities and towns and 2 states.
Promoters Background:
Promoters have a collective experience of over 40 years in the education sector. They started their entrepreneurial journey in the year 1991 when they established SSI, an entity which was listed on the Indian Stock Exchanges and was engaged in training students in short term computer software courses with a franchise network
rolled out across India.
In April 2003, SSI hived off its education division and merged it with Aptech Limited, another listed entity engaged in the business of computer education and training.
Company offer services through four Wholly-Owned Subsidiaries which are tabled below:
Management Team:
- Mr. Kalpathi S. Suresh (Designation: Executive Director cum Chairman)
- Mr. Kalpathi S. Aghoram (Designation: Non-Executive Director cum Vice- Chairman)
Objectives of the Issue:
Fresh Issue: (Rs.200 cr)
- Repayment or pre-payment, in part or full of all or certain of our borrowings.
- Payment of acquisition consideration of Edureka or repayment of a bridge loan availed specifically for the purpose of discharge of such acquisition consideration of Edureka.
- Growth initiatives.
Peer Group Comparison:
There are no listed companies in India that engage in a business similar to that of Veranda Learning Solutions Ltd.
Financials of the Company:
| (in Crores) | FY 21 | 30th Sept 21 |
|---|---|---|
| Revenue | 2.54 | 15.66 |
| Net Profit | (-8.2) | (-18.2) |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 29th March 2022 |
| Issue Closes on:. | 31st March 2022 |
| Issue Price | Rs.130 – 137 |
| Face Value | Rs.10 |
| Minimum Lot | 100 Shares |
| Minimum Investment | Rs.13,700 |
| Issue Constitutes | 26.17% |
| Issue Size | Rs.200 cr ($26 million) |
| Market Cap | Rs.764 cr ($ 100 million) |
| Listing at | NSE & BSE |
| Equity Shares Offered (Fresh) | 1,45,98,540 |
| Equity Shares Prior to the Issue | 4,11,76,979 |
| Equity Shares after the issue | 5,57,75,519 |
Also Read : List of Upcoming IPO’s in India.
Also Read : List of Upcoming SME IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | on or Before 5th April 2022 |
| Initiation of Refunds | on or Before 6th April 2022 |
| Credit of Equity Shares: | on or Before 6th April 2022 |
| Listing Date: | on or Before 7th April 2022 |
| Check IPO Allotment Status: |
|---|
KfinTech Website : http://kfintech/IPO/Allotment_StatusBSE IPO Website: https://www.bseindia.com/IPO/Allotment |
| Company Contact Info: |
|---|
| Veranda Learning Solutions Ltd Old No 54, New No 34 Thirumalai Pillai Road T. Nagar, Chennai – 600 017 Tamil Nadu, India Tel: +91 44 4296 7777 Website: www.verandalearning.com |
| IPO Registrar Info: |
|---|
| KFin Technologies Limited Selenium Tower-B, Plot 31 & 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad – 500 032, Telangana, India Tel: +91 40 6716 2222 E-mail: veranda.ipo@kfintech.com Website: www.kfintech.com |
| Lead Manager to the Issue: |
|---|
| Systematix Corporate Services Limited The Capital, A Wing No. 603-606 6th Floor, Plot No. C-70, G-Block BKC, Bandra East Mumbai 400 051, Maharashtra, India Tel: +91 22 6704 8000 E-mail: mb.verandaipo@systematixgroup.in Website: www.systematixgroup.in |
