Veranda Learning IPO: The IPO of Vedanta Learning Solutions, which provides offline-online coaching for UPSE, CA, Banking and other government exams, is coming soon.
Veranda Learning IPO: The IPO of Vedanta Learning Solutions, which provides offline-online coaching for UPSE, CA, Banking and other government exams, is coming soon. Its Rs 200 crore IPO will open next week on March 29 and investors will be able to subscribe till March 31. The price band for this issue has been fixed at Rs 130-137 per share. Talking about Pierce, in the segment of business that Vedanta Learning Solutions is in, no company in the country is listed in the domestic market and it will be the first company of its kind. Vedanta Learning Solutions will use the money raised through the IPO for debt repayment, growth and general corporate purposes.
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Veranda Learning IPO Details
- The Rs 200 crore IPO of Vedanta Learning will be open for subscription between March 29-March 31, 2022.
- Under this issue, all new shares will be issued i.e. the existing shareholders of Vedanta Learning will not reduce their holding under the offer for sale.
- The price band for the issue has been fixed at Rs 130-137 per share.
- The lot size is of 100 shares i.e. according to the upper price of the price band, investors will have to invest at least Rs 13,700.
- The face value of the shares is Rs 10 per share.
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- 75 per cent of the issue is reserved for qualified institutional buyers, 10 per cent for retail investors and 15 per cent for non-institutional investors.
- Allotment of shares can be done on April 5 and listing on April 7.
- The register for the issue is Kefintech Private Limited.
- The money raised by the issue of new shares will be used by the company to pay off debt, acquire Edureka and for growth initiatives.
Details about the company
Vedanta Learning offers online and offline coaching to students, graduates, professionals and corporate employees for career government exams like UPSE, CA and banking and skill enhancement. In the first nine months of the current financial year i.e. April-December 2021, 42,667 students and professionals have been enrolled in Vedanta Learning, of which 16,793 are in the offline model and 25,874 in the online model.
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