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Veranda Learning IPO is a book built issue of Rs 200.00 crores. The issue is entirely a fresh issue.
Veranda Learning IPO bidding started from March 29, 2022 and ended on March 31, 2022. The allotment for Veranda Learning IPO was finalized on Tuesday, April 5, 2022. The shares got listed on BSE, NSE on April 11, 2022.
Veranda Learning IPO price band is set at ₹130 to ₹137 per share. The minimum lot size for an application is 100 Shares. The minimum amount of investment required by retail investors is ₹13,700.
Systematix Corporate Services Limited is the book running lead manager of the Veranda Learning IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Veranda Learning IPO RHP for detailed information.
| IPO Date | March 29, 2022 to March 31, 2022 |
| Listing Date | April 11, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹130 to ₹137 per share |
| Lot Size | 100 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹200.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹200.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 41,176,979 |
| Share holding post issue | 55,775,519 |
Veranda Learning IPO offers 21,167,883 shares. 4,379,562 (20.69%) to QIB, 2,189,781 (10.34%) to NII, 1,459,854 (6.90%) to RII 6,569,343 (31.03%) to Anchor investors. 14,598 RIIs will receive minimum 100 shares and (sNII) and (bNII) will receive minimum 1,500 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 6,569,343 (31.03%) | NA |
| QIB Shares Offered | 4,379,562 (20.69%) | NA |
| NII (HNI) Shares Offered | 2,189,781 (10.34%) | |
| Retail Shares Offered | 1,459,854 (6.90%) | 14,598 |
| Total Shares Offered | 21,167,883 (100%) |
Veranda Learning IPO opens on March 29, 2022, and closes on March 31, 2022.
| IPO Open Date | Tuesday, March 29, 2022 |
| IPO Close Date | Thursday, March 31, 2022 |
| Basis of Allotment | Tuesday, April 5, 2022 |
| Initiation of Refunds | Wednesday, April 6, 2022 |
| Credit of Shares to Demat | Wednesday, April 6, 2022 |
| Listing Date | Monday, April 11, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 31, 2022 |
Investors can bid for a minimum of 100 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 100 | ₹13,700 |
| Retail (Max) | 14 | 1400 | ₹191,800 |
| Lot Size Calculator | |||
Mr. Kalpathi S. Aghoram, Mr. Kalpathi S. Ganesh, and Mr. Kalpathi S. Suresh are the company promoters.
| Share Holding Pre Issue | 89.22% |
| Share Holding Post Issue | 65.87% |
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...
The Veranda Learning IPO is subscribed 3.53 times on March 31, 2022 5:00:00 PM. 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) |
|---|---|
| QIB | 2.02 |
| NII | 3.87 |
| Retail | 10.76 |
| Total | 3.53 |
| Listing Date | April 11, 2022 |
| BSE Script Code | 543514 |
| NSE Symbol | VERANDA |
| ISIN | INE0IQ001011 |
| Final Issue Price | ₹137 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹137.00 |
| ₹157.00 |
| ₹149.15 |
| ₹164.85 |
| ₹160.40 |
| NSE |
|---|
| ₹137.00 |
| ₹125.00 |
| ₹125.00 |
| ₹131.25 |
| ₹131.25 |
Veranda Learning Solutions Limited
Old No 54, New No 34,
Thirumalai Pillai Road,
T. Nagar, Chennai – 600017
Phone: +91 44 42967777
Email: anantharamakrishnan.m@verandalearning.com
Website: https://www.verandalearning.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Veranda Learning IPO is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹200.00 Crores. The issue is priced at ₹130 to ₹137 per share. The minimum order quantity is 100 Shares.
The IPO opens on March 29, 2022, and closes on March 31, 2022.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Veranda Learning IPO using UPI as a payment gateway. Zerodha customers can apply in Veranda Learning IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Veranda Learning IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Veranda Learning IPO opens on March 29, 2022 and closes on March 31, 2022.
Veranda Learning IPO lot size is 100 Shares, and the minimum amount required is ₹13,700.
You can apply in Veranda Learning IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Veranda Learning 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 IPO allotment status.
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