Team Startupcity

• Rs 357.42 crore raised through Veranda's first-ever QIP at Rs 225.20 per share.
• Rs 310 crore allocated for debt reduction, including repayment to Ascertis Credit.
• Major investors onboard include Authum Investment and Singapore’s Necta Bloom VCC.

Veranda Learning Solutions Ltd, a diversified edtech firm based in Chennai, raised Rs 357.42 crore through its initial Qualified Institutional Placement (QIP) as per a regulatory filing. The funds will mainly be deployed to pay down debt and fund the growth of the company across learning verticals.

The QIP, open between July 17 and July 22, received the subscription of around 1.58 crore equity shares by domestic and foreign institutional investors at the price of Rs 225.20 a share, which is at a discount of 4.95% to the SEBI-regulated floor price of Rs 236.92.

Also Read- Netrasemi Raises Rs 107 Crore to Advance AI-Driven Chip Technology

The issue found favor with marquee investors. Authum Investment spearheaded the issue by picking up 44.77% of the QIP shares, followed by Singapore-based Necta Bloom VCC at 11.19%. Trust Mutual Fund, Resonance Opportunities Fund, and Saint Capital Fund were other institutions that participated.

The final allotment was ratified by Veranda's board in a meeting on Tuesday.

Rs 310 crore out of the entire proceeds will be utilised to retire outstanding debt, including a facility of Ascertis Credit, according to Suresh Kalpathi, Chairman and Executive Director. The rest will be directed towards strategic investments in the various learning divisions of the company, although operational details were not provided.

Post-issue, the company's paid-up equity capital has risen from Rs 77.73 crore to Rs 93.60 crore, while the number of outstanding shares has increased to 9.36 crore from 7.77 crore. Veranda will shortly file a revised shareholding pattern with the stock exchanges.

The capital raise is happening when the Indian edtech sector is witnessing a revival in investor interest, particularly for vertically integrated and outcome-focused learning platforms.

Established in 2018 by the Kalpathi AGS Group, Veranda offers test preparation and professional training in online, offline, and hybrid formats. It includes government exam coaching, study abroad facilities, finance certifications, and software skills development.

Systematix Corporate Services acted as the exclusive book-running lead manager to the QIP.