Veranda Learning Solutions Ltd IPO | Motilal Oswal

Veranda Learning Solutions Ltd IPO

Opening Date

29, March 2022

Closing Date

31, March 2022

Face Value

₹10 per equity share

IPO Price Band

₹130 to ₹137 per equity share

Minimum Order Quantity

100 Shares

Issue Size

Rs 200 Crs

 

The year 2021 proved to be a beneficial year for primary markets, wherein more than 63 IPOs went public, raising more than 1 Lakh Crore. It is estimated that approximately 1 million investors participated in this IPO rally. The largest IPO was from One97 Communications (PAYTM) for Rs 18,300 crore — the largest offering historically in India. New-age technology brands like Paytm, Zomato, Nykaa and Policybazaar, released initial public offerings (IPOs) in India during 2021 even as the stock market key indices leaped to new highs shrugging off COVID concerns. Coming out now, is the offering from Veranda Learnings Ltd. Let’s take a quick look at this offering.

About Veranda Learning Solutions Ltd Company -

Started in 2018, the Chennai-based company offers diversified and integrated learning solutions such as preparation for career-defining competitive exams, professional courses, exam-oriented courses, short-term up-skilling, and re-skilling courses to students, professionals, and corporate employees.

  • It provides comprehensive long term 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 provides services through online, offline hybrid, and offline blended learning models
  • All services are offered through four subsidiaries -- Veranda Race Learning Solutions, Veranda XL Learning Solutions, Veranda IAS Learning Solutions, and Brain4ce Education Solutions ( Edureka).

Veranda Learning Solutions Ltd IPO details -

Let’s now move onto the main part of this article. Here, we’re going to be looking at some of the most important details of this upcoming IPO viz - Veranda Learning Solutions Ltd IPO date and its share price.

Veranda Learning Solutions Ltd IPO date -

According to the Red Herring Prospectus filed by the company, the public issue of the equity shares is going live from 29th, March and will be available for subscription until 31st, March 2022.

Veranda Learning Solutions Ltd IPO issue size -

The total issue size of the latest IPO of Veranda Learning Solutions Ltd IPO is expected to be around Rs 200 crores. This is a total fresh issue of shares offered by Veranda Learning Solutions Ltd IPO.

75% of the offer is for QIBs (qualified institutional buyers), 10% for retail investors, and the balance 15% for NIBs (non-institutional investors).

Veranda Learning Solutions Ltd IPO share price

The price band of the company’s upcoming IPO is declared to range between ₹130 to ₹137 per equity share

Veranda Learning Solutions Ltd IPO listing

Since the IPO of Veranda Learning Solutions Ltd IPO is from the mainboard, it would be listed on both - the National Stock Exchange (NSE) as well as the Bombay Stock Exchange (BSE)

Veranda Learning Solutions Ltd IPO objectives

According to the Red Herring Prospectus filed by the company, it aims to utilize the Net Proceeds towards the following objects:

  • 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

Conclusion

If you are excited about this upcoming IPO and want to invest in it, you will first need to have an online Demat Account of your own! And to get it for Free*, all you need to do is sign-up with Motilal Oswal.

If you already have an existing account, you can  start your online trading and invest in the upcoming IPO's.

With a plethora of companies coming forward with their own IPOs in quick succession, you can keep a track of all the upcoming IPOs by regularly following our IPO calendar.

Related Articles : Upcoming IPO | LIC IPO

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