Bookbuilding IPO | ₹200 Cr | Listed at BSE, NSE | Tue, Mar 29, 2022 - Thu, Mar 31, 2022
Veranda Learning Solutions IPO is a book build issue of ₹200.00 crores. The issue is entirely a fresh issue of 1.46 crore shares of ₹200.00 crore.
Veranda Learning Solutions IPO bidding started from Mar 29, 2022 and ended on Mar 31, 2022. The allotment for Veranda Learning Solutions IPO was finalized on Apr 5, 2022. The shares got listed on BSE, NSE on Apr 11, 2022.
Veranda Learning Solutions IPO price band is set at ₹137 per share. The lot size for an application is 100. The minimum amount of investment required by an retail is ₹13,700 (100 shares) (based on upper price). The lot size investment for sNII is 15 lots (1,500 shares), amounting to ₹2,05,500, and for bNII, it is 73 lots (7,300 shares), amounting to ₹10,00,100.
Systematix Corporate Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Veranda Learning Solutions IPO RHP for detailed Information.
IPO Open
Tue, Mar 29, 2022
IPO Close
Thu, Mar 31, 2022
Issue Price
₹137 per share
Market Cap (Pre-IPO)
₹764.12 Cr
| IPO Date | 29 to 31 Mar, 2022 |
| Listed on | Mon, Apr 11, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹130 to ₹137 |
| Issue Price | ₹137 per share |
| Lot Size | 100 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,45,98,540 shares (agg. up to ₹200 Cr) |
| Fresh Issue | 1,45,98,540 shares (agg. up to ₹200 Cr) |
| Share Holding Pre Issue | 4,11,76,979 shares |
| Share Holding Post Issue | 5,57,75,519 shares |
| BSE Script Code / NSE Symbol | 543514 / VERANDA |
| ISIN | INE0IQ001011 |
Veranda Learning Solutions IPO offers total 1,45,98,540 shares. Out of which 1,09,48,905 (75.00%) allocated to QIB, 75,36,405 (51.62%) allocated to QIB (Ex- Anchor), 21,89,781 (15.00%) allocated to NII 14,59,854 (10.00%) allocated to RII and 34,12,500 (23.38%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,09,48,905 (75.00%) | NA |
| − Anchor Investor Shares Offered | 34,12,500 (23.38%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 75,36,405 (51.62%) | NA |
| NII (HNI) Shares Offered | 21,89,781 (15.00%) | NA |
| Retail Shares Offered | 14,59,854 (10.00%) | 14,598 |
| Total Shares Offered | 1,45,98,540 (100.00%) |
Investors can bid for a minimum of 100 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 100 | ₹13,700 |
| Retail (Max) | 14 | 1,400 | ₹1,91,800 |
| S-HNI (Min) | 15 | 1,500 | ₹2,05,500 |
| S-HNI (Max) | 72 | 7,200 | ₹9,86,400 |
| B-HNI (Min) | 73 | 7,300 | ₹10,00,100 |
Veranda Learning Solutions IPO raises ₹46.75 crore from anchor investors. Veranda Learning Solutions IPO Anchor bid date is March 28, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Mar 28, 2022 |
| Shares Offered | 34,12,500 |
| Anchor Portion (₹ Cr.) | 46.75 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, May 5, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Jul 4, 2022 |
Incorporated in 2018, Veranda Learning Solutions Limited offers online and offline coaching services for career-defining courses such as UPSE, Chartered Accountant, Banking, and Government Exams to students, graduates, professionals, and corporate employees.
The company offers coaching services for Railways Recruitment Board exams, Banking, and Insurance exams, State Public Service Commission, Staff Selection Commission exams, CA Foundation, CA Intermediate, and CA Final exams, Union Public Service Commission-prelims, and main exam, and personality tests, and State Public Service Commission Group-I exams, Short term skilling courses, Long term courses (university partnership courses) and Corporate learning courses (B2B). All the services are offered through its wholly-owned subsidiaries namely Veranda Race Learning Solutions Private Limited (Veranda Race), Veranda XL Learning Solutions Private Limited (Veranda CA), Veranda IAS Learning Solutions Private Limited (Veranda IAS), and Brain4ce Education Solutions Private Limited (Edureka).
During the nine-month period ending December 31, 2021, a total of 42,667 Students and professionals have enrolled across all courses, out of which 16,793 enrolled for the offline model and 25,874 enrolled for the online model.
Competitive Strengths:
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment or pre-payment, in part or full of all or certain of the borrowings | 60.00 |
| 2 | Repayment of a bridge loan availed specifically for the purpose of discharge of acquisition consideration of Edureka | 25.19 |
| 3 | Growth initiatives | 50.00 |
| 4 | General corporate purpose | 47.73 |
| KPI | |
|---|---|
| ROE | 134.12 |
| ROCE | 17.84 |
| Debt/Equity | -99.75 |
| PAT Margin | -295.60% |
| EBITDA Margin | -288.00% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | -7.29 | |
| Promoter Holding | 89.22% | 65.87% |
| Market Cap | ₹764.12 Cr. |
The Veranda Learning IPO is subscribed 3.53 times on March 31, 2022 5:00:00 PM (Day 3). The public issue subscribed 10.76 times in the retail category, 2.02 times in the QIB category, and 3.87 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 2.02 | 79,42,212 | 1,60,63,700 |
| NII | 3.87 | 23,07,692 | 89,31,000 |
| Retail | 10.76 | 15,38,461 | 1,65,60,300 |
| Total | 3.53 | 1,17,88,365 | 4,15,55,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to BRLM and commission (including selling commission, brokerage and underwriting commission) | 9.00 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Issue and bidding/uploading charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 0.54 |
| 3 | Advertising and Marketing expenses | 2.34 |
| 4 | Fees payable to to other intermediaries including RTA, Statutory Auditors, Sponsor Banks, ICA, PCS, Advisor to the Offer, Industry Report etc. | 3.03 |
| 5 | Listing fees, SEBI, BSE and NSE processing fees, book building software fees and other regulatory expenses; | 1.00 |
| 6 | Printing and distribution of stationery; | 0.20 |
| 7 | Fees payable to legal counsels; and | 0.51 |
| 8 | Miscellaneous | 0.47 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹137.00 | ₹137.00 |
| Open | ₹157.00 | ₹125.00 |
| Low | ₹149.15 | ₹125.00 |
| High | ₹164.85 | ₹131.25 |
| Last Trade | ₹160.40 | ₹131.25 |
Lead Manager Reports
Veranda Learning Solutions IPO is a main-board IPO of 1,45,98,540 equity shares of the face value of ₹10 aggregating up to ₹200 Crores. The issue is priced at ₹137 per share. The minimum order quantity is 100.
The IPO opens on Tue, Mar 29, 2022, and closes on Thu, Mar 31, 2022.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Veranda Learning Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in Veranda Learning Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Veranda Learning Solutions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Veranda Learning Solutions IPO opens on Tue, Mar 29, 2022 and closes on Thu, Mar 31, 2022.
Veranda Learning Solutions IPO lot size is 100, and the minimum amount required for application is ₹13,700.
You can apply in Veranda Learning Solutions IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Veranda Learning Solutions IPO will be done on Tuesday, April 5, 2022, and the allotted shares will be credited to your demat account by Wed, Apr 6, 2022. Check the Veranda Learning Solutions IPO allotment status.
The Veranda Learning Solutions IPO listing date is on Mon, Apr 11, 2022.
