Veranda Learning to raise up to Rs 250 cr via preferential issue
The funds raised will be directed towards acquisitions, deferred consideration payouts, and to grow its existing business.
Representative image
CHENNAI: Veranda Learning Solutions, a listed enterprise providing end-to-end solutions in the education space, has received approvals to raise funds for an amount up to Rs 250 crore through preferential issue.
The funds raised will be directed towards acquisitions, deferred consideration payouts, and to grow its existing business.
This preferential raise is part of the broader fund-raising plan to be completed this financial year. "We are thrilled with the robust response to the private placement driven by marquee investors. This successful fundraising equips Veranda with a robust capital base to drive our next phase of growth and demonstrates the confidence of investors in the vision and our potential for growth. We’re on track to close all acquisitions in this financial year, and no further equity dilution in Veranda Learning is expected beyond this financial year," said Kalpathi S Suresh, ED-chairman, Veranda Learning,
Veranda Learning Solutions also announced its plan to acquire 51 per cent stake in BB Publications Private Limited (BB Virtuals) for a consideration of Rs 126.2 crore and 65 per cent stake in Navkar Digital Institute Private Limited for consideration of Rs 45.5 crore. These acquisitions will strengthen Veranda’s CA/CMA coaching offerings, reinforcing its position as a leader in commerce education throughout India.