Veranda Learning IPO Review: Veranda Learning Solutions initial public offer (IPO) will open for subscription on March 29th and closes on March 31st.
The educator is looking to raise Rs.200 crores through the IPO. In this article, we take a closer look at the Veranda Learning IPO Review and its possible future prospects. Keep Reading to find out!
Table of Contents
About the Company
Founded in 2018, Veranda Learning Solutions Limited offers online and offline coaching services for various courses and competitive exams.
Some of the most enrolled and important courses include the likes of UPSC, Chartered Accountant, Banking, and Government Exams.
Their courses are offered to college students, graduates, professionals, and even corporate employees.
All their courses are offered through their subsidiaries which include
- Veranda Race Learning Solutions Private Limited (Veranda Race)
- Veranda XL Learning Solutions Private Limited (Veranda CA)
- Veranda IAS Learning Solutions Private Limited (Veranda IAS)
- Brain4ce Education Solutions Private Limited (Edureka)
Their service offering includes 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 State Public Service Commission Group-I exams.
In addition to this, the company also offers customized short and long-term skilling courses, among other corporate courses to Learners.
For the 9 month period ending in December for FY21, a total of 42,667 Students and professionals have enrolled across all courses.
Out of these 16,793 enrolled for the offline model and 25,874 enrolled for the online model. For the same period the company had employed 8 Student advisors, 166 Mentors and it operated 25 PDCs across 25 cities.
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Financials of the Company
Financially the company is still yet to break even. It has posted losses for the last 3 fiscal years. For 6 months ending Sept of FY21, the company has made Rs. 18.27 crores in losses.
The company however has crossed a milestone of Rs. 10 crores in revenues per month. There are no listed peers in the stock market.
Key IPO Information
Anjana Haresh Motwani and Karan Haresh Motwani are the promoters of the company. They have appointed Unistone Capital as the lead manager to the issue.
Bigshare Services has been appointed as the registrar for the issue.
| Particular | Details |
|---|---|
| IPO Size | ₹200.00 Cr |
| Opening Date | Mar 29, 2022 |
| Closing Date | Mar 31, 2022 |
| Face Value | ₹10 per equity share |
| IPO Price | ₹130 to ₹137 per equity share |
| Lot Size | 100 Shares |
| Minimum Lot | 1 |
| Maximum Lot | 14 |
| Listing Date | Apr 7, 2022 |
Purpose of the IPO
- Repayment/prepayment of debt (Rs. 60.00 cr.)
- Payments for acquisition of Edureka (Rs. 25.19 cr.)
- Growth initiatives (Rs. 50.00 cr.)
- General corporate purpose
In Closing
In this article, we covered the Veranda Learning IPO Review. The Initial Public Offering opens on March 29th and closes on March 31st.
For investors, it can be a good opportunity to look into the company and apply for the IPO after analyzing the prospects and strengths.
Let us know what you think about the Veranda Learning IPO review in the comments below? Happy Investing!
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Aron, Bachelors in Commerce from Mangalore University, entered the world of Equity research to explore his interests in financial markets. Outside of work, you can catch him binging on a show, supporting RCB, and dreaming of visiting Kasol soon. He also believes that eating kid’s ice-cream is the best way to teach them taxes.
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