The Initial Public Offering (IPO) for Veranda Learning Solutions open has opened for subscription today. The subscription offer stands for a period of three days, ending on March 31.
Incorporated in 2018, Veranda Learning Solutions is an online and offline coaching service that caters to the preparation of exams such as UPSC, Chartered Accountants, banking, and other government service exams. The company has four subsidiaries Veranda Race Learning Solutions Private Limited, Veranda XL Learning Solutions Private Limited also known as Veranda CA, Veranda IAS Learning Solutions Private Limited, and Brain4ce Education Solutions Private Limited.
The IPO price of the company is fixed at Rs 130 and Rs 137 per equity share, with a market lot of 100 shares and a minimum order quantity of 100 shares. A retail-individual investor can apply for up to 14 lots (1400 shares or Rs 1,91,800). The offer for sale (OFS) of the IPO is Rs 200 crore, whereas, the fresh issue is Rs 200 crore. With the IPO, the promotors want to sell a 23.35 per cent stake in the company. The pre-issue shareholding of the company’s promoters is 89.22 per cent. The post-issue shareholding by the promoters will be 65.87 per cent. The company is promoted by Kalpathi S Aghoram, Kalpathi S Ganesh, and Kalpathi S Suresh.
