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Veranda Learning gets nod to raise Rs 300 crore via preferential issue, convertible warrants

16 Sep 2022 Evaluate

Veranda Learning Solutions has received approval from its board to raise Rs 300 crore through preferential issue, subject to the approval of shareholders at the ensuing EGM on October, 6, 2022. This raise includes an investment of Rs 61.40 crore to be subscribed by the promoters in the form of convertible warrants.

Fundraise is through a mix of Preferential offer of equity shares and Convertible warrants both at a price of Rs 307 per share. Each warrant is convertible into 1 equity share and the conversion can be exercised at any time within a period of 18 months from the date of allotment. 25% of the total consideration for convertible warrants will be payable at the time of application.

It may be recalled that the company has secured approvals from the shareholders at the Extra Ordinary General Meeting held on May 27, 2022 to raise debt in the form of NCDs/ Bonds and other instruments upto 1000 crore. This debt and equity fund raise together would be used to fuel in organic growth through acquisitions.

Veranda Learning Solutions is engaged in the business of offering diversified and integrated learning solutions in online, offline hybrid and offline blended formats to students, aspirants, and graduates (collectively Students) professionals and corporate employees (Learners).

Veranda Learning Sln Share Price

223.00 -0.25 (-0.11%)
07-May-2026 16:01 View Price Chart
Peers
Company Name CMP
Physicswallah 110.00
CL Educate 38.70
Zee Learn 6.30
Jaro Inst. of Tech&R 418.20
Crizac 218.00
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