Veranda Learning Solutions list at 15% premium on BSE

11 Apr 2022 , 10:28 AM

Chennai-based edtech Veranda Learning Solutions Limited made a decent debut on stock exchanges today. The stock was listed at Rs157 a share on the BSE with a gain of Rs20 on each equity share or a premium of 14.60%.

Post-listing, the market capitalisation of the company stood at Rs875 crore, according to BSE data.

The stock is currently trading at Rs164.70 up by Rs27.7 or 20.22% from its previous closing of Rs137 on the BSE. The scrip opened at Rs157 and has touched a high and low of Rs164.85 and Rs149.15 respectively.

The initial public offer (IPO) of Veranda Learning Solutions received bids for 4,15,55,000 shares as against 1,17,88,365 shares on offer. The issue was subscribed 3.53 times.

The retail investors category was subscribed 10.76 times. The non-institutional investors category was subscribed 3.87 times. The qualified institutional buyers (QIBs) category was subscribed 2.02 times. The issue opened for bidding on 29 March 2022 and it closed on 31 March 2022.

The price band of the IPO was fixed at Rs130-137 per share.

Veranda Learning Solutions is engaged in the business of offering diversified and integrated learning solutions in online, offline hybrid and offline blended formats to students, aspirants, and graduates, professionals and corporate employees enrolled with its courses through multitude of career-defining competitive exams, professional courses, exam-oriented courses, short term upskilling and reskilling courses.

The company provides comprehensive long-term and short-term preparatory courses in a simple and lucid manner for students preparing for UPSC exams, State Public Service Commission, Staff Selection Commission, Banking, Insurance, Railways and Chartered Accountancy. The company also provides customised short term skilling courses, long term courses and other corporate courses to its Learners. The company also delivers these courses to employees of corporates through its B2B offerings.