Veranda Learning Solutions IPO: The IPO of Veranda Learning Solutions is opening for subscription today i.e. on March 29. The company has fixed a price band of Rs 130-137 per share for a public offer of Rs 200 crore. The IPO of Veranda Learning Solutions is scheduled to close on March 31.
A fresh issue of Rs 200 crore is being issued in this offer. The stock market has been volatile for some time now. In such a situation, the issue of Uma Exports was opened on March 28 before Veranda Learning this week.
10 things to know about Veranda Learning Solutions IPO
75 per cent of this IPO is reserved for QIBs while 15 per cent is reserved for non-institutional investors while 10 per cent is reserved for retail investors.
Its shares are proposed to be listed on both BSE and NSE.
-Kfintech Pvt. for IPO. Ltd. is the registrar and will manage the share allocation and refund. SYSTEMATICS CORPORATE SERVICES LTD. has been appointed as the manager for the offer.
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– Lot size is 100 shares. Investors will have to invest at least Rs 13,700.
-Veranda Learning Solutions is an Ed-Tech venture of Kalpathy AGS Group and offers training programs for various competitive exams including State PSC, Banking/ Staff Selection/ RRB, IAS and CA across India.
The company started operations in 2020. The company had earned revenue of Rs 15.6 crore during the six months ended September 30.
The company offers students diverse and integrated learning solutions in online, offline hybrid and offline blended formats.
According to the brokerage, the allotment of shares is likely to happen on April 5 and listing on April 7.
Uma Exports IPO: Company’s issue subscribed 2.14 times on day one, retail investors show great interest
Abhay Doshi of Unlisted Arena said, “The company commenced business in December, 2020 and hence does not have much track record for valuation. The company reported a loss of Rs 18.2 crore on revenue of Rs 15.6 crore in the first half of FY22. This sector is still emerging and very competitive as there is a lot of cash available on big companies.”
He said, “The price being sought for a loss-making company is 25 times the sales. The sentiment in the primary market is weak and loss-making companies have failed to make good starts in the recent past.”