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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 ₹137.00 per share . The lot size for an application is 100. The minimum amount of investment required by an retail is ₹13,000 (100 shares). 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 Date | March 29, 2022 to March 31, 2022 |
| Listing Date | April 11, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹130 to ₹137 per share |
| Issue Price Final | ₹137 per share |
| Lot Size | 100 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 1,45,98,540 shares (aggregating up to ₹200.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,11,76,979 shares |
| Share Holding Post Issue | 5,57,75,519 shares |
Veranda Learning 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, 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 | Maximum 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%) |
Veranda Learning Solutions IPO opens on March 29, 2022, and closes on March 31, 2022.
| IPO Open Date | Tue, Mar 29, 2022 |
| IPO Close Date | Thu, Mar 31, 2022 |
| Tentative Allotment | Tue, Apr 5, 2022 |
| Initiation of Refunds | Wed, Apr 6, 2022 |
| Credit of Shares to Demat | Wed, Apr 6, 2022 |
| Tentative Listing Date | Mon, Apr 11, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Mar 31, 2022 |
Investors can bid for a minimum of 100 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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:
| Particulars | For the year/period ended (Rs in Millions) | ||||
|---|---|---|---|---|---|
| 30-Sep-21 | 31-Mar-21 | ||||
| Total Assets | 3,073.65 | 115.19 | |||
| Total Revenue | 156.61 | 25.45 | |||
| Profit After Tax | (182.69) | (82.79) | |||
The net proceeds of the Offer are proposed to be utilized in the following manner:
[Dilip Davda] Though the management claims that it is a very niche player in online/offline learning solutions, its operations with high losses raise concerns. Many investors have burnt their pockets with investments in loss-making unicorn/tech companies in the recent past and hence caution is needed. There is no harm in ignoring this IPO. Read detail review...
| Listing Date | April 11, 2022 |
| BSE Script Code | 543514 |
| NSE Symbol | VERANDA |
| ISIN | INE0IQ001011 |
| Final Issue Price | ₹137 per share |
| BSE Listing Group | T |
Veranda Learning Solutions Ltd.
Old No 54, New No 34,
Thirumalai Pillai Road,
T. Nagar
Chennai, Tamil Nadu, 600017
Phone: +91 44 42967777
Email: anantharamakrishnan.m@verandalearning.com
Website: https://www.verandalearning.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://ipostatus.kfintech.com/
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 ₹200.00 Crores. The issue is priced at ₹137 per share. The minimum order quantity is 100.
The IPO opens on March 29, 2022, and closes on March 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 March 29, 2022 and closes on March 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 Wednesday, April 6, 2022. Check the Veranda Learning Solutions IPO allotment status.
The Veranda Learning Solutions IPO listing date is on Monday, April 11, 2022.
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