13 Oct 2022 , 10:09 AM
The deal will be completed in two stages, the first of which will involve the payment of 76% of the outstanding capital for Rs337.82 crore. The entire purchase will be financed using a mix of debt and equity.
Veranda Learning provides a variety of competitive exam preparation training programmes, including the State Public Service Commission, Banking, Insurance, Railways, IAS, and CA, as well as a slew of professional skilling and upskilling programmes in cutting-edge technologies.
For the last 39 years, J. K. Shah Classes has been a pioneer in teaching CA, CS, and CMA students in India, and it is one of the leading test-prep organisations in India. It presently has 75 centres in 39 Indian locations and is headquartered in Mumbai.
As Chief Operating Officers, CA. Pooja Shah and CA. Vishal Shah will continue to oversee day-to-day operations.
For this transaction, the buy-side advisers were InCredMAPE and KPMG, while the sale-side advisor was InCorp Advisory.
At around 9.19 AM, Veranda Learning Solutions was trading at Rs353.75 up by 2.06% from its previous closing of Rs346.60 on the BSE. The scrip opened at Rs355 and touched intraday high and low of Rs359.95 and Rs351.05 respectively.
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