Chennai based education company Veranda Learning Solutions Ltd. is all set for its IPO opening on 29th March 2022. The company started its operation in 2018. It provides various courses, preparatory materials, mock tests, skill development courses to students, aspirants and even professionals. The key focus of the company has been on integrated learning solutions delivered over online, offline and hybrid models which are preferred now a day. The company majorly focuses on preparing candidates on banking, insurance, railways, UPSC, state level executive services and chartered accountancy exams and courses. Under professional skill development company provides short term, medium term and long term professional courses that suits the present need of the industry or specific company need. Veranda Learning Solutions plans to use the IPO funds in repayment of existing borrowings and further growth.
The details of the IPO are as below:
- Issue size – Rs. 200/- Crores
- Issue period – Between 29th March to 31th March 2022
- Price band – Rs. 130/- to Rs. 137/-
- Face value – Rs. 10/- per equity share
- Lot size for bidding – minimum 100 shares & in multiples of 100 shares further. Single retail investor can apply maximum of 14 lots.
- Listing at exchanges – BSE & NSE
- Tentative allotment date – 5th April 2022
- Tentative refund date – 6th April 2022
- Tentative date for credit of allotted shares in DMAT – 6th April 2022
- Tentative FPO listing date – 7th April 2022
- Retail category on offer – 10% of total offer
- Non-Institutional category on offer – 15% of total offer
- Qualified Institutional Buyers (QIB) shares on offer – 75% of total offer
Disclaimer: Investment in equity markets involves high degree of risk, please read the IPO document carefully before investing.