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Business Standard
28-07-2025
- Business
- Business Standard
Veranda plans demerger of its commerce vertical
Veranda Learning Solutions has announced a strategic restructuring of its Commerce vertical as part of its Veranda 2.0 vision. This move aims to unlock long-term value, enhance operational agility, and accelerate growth in one of India's most competitive education domains. As part of the realignment, Veranda Learning will acquire the remaining 24% equity stake held by Prof. J.K. Shah in Veranda XL Learning Solutions, the principal company within the Commerce portfolio. This transaction will result in Veranda XL becoming a wholly owned subsidiary, thereby simplifying the group structure and easing the path to demerger. In line with the approved objectives of the Qualified Institutional Placement (QIP), a significant portion of the proceeds will be utilized to redeem the senior, secured, unlisted, redeemable, non-convertible debentures (NCDs) issued by the Company's subsidiary, Veranda XL Learning Solutions (Veranda XL) to Ascertis Credit (Formerly Barings Private Equity Asia). This redemption will enable the repayment of a majority of the subsidiary's existing debt. Post this transaction, the subsidiary which forms part of the Commerce verticalwill be on the path to becoming debt-free. Following the in-principle nod from its Restructuring Committee, Audit Committee, the Board have approved the incorporation of a wholly owned subsidiary by the name J.K. Shah Commerce Education Limited (or another name as may be approved by the appropriate authorities), which will serve as the platform for the vertical's operations going forward. The proposed Scheme of Arrangement is now progressing through requisite internal approvals before being submitted to the Board and regulatory bodies for its final clearance. The new entity will unify Veranda's top-performing commerce education brandsJ.K. Shah Classes, BB Virtuals, Navkar Digital Institute, Tapasya College of Commerce, and Logic School of Management into a single powerhouse delivering CA, CS, CMA, and ACCA test preparation. With a legacy of mentoring thousands of CA rankers over the years, the vertical has built a trusted reputation across India. This demerger is an important step towards building focused business units that can pursue independent growth strategies. The Commerce vertical has shown immense promise, and we believe this move will enable it to fully realise its potential, said Suresh Kalpathi, Executive Director and Chairman, Veranda Learning Solutions.
Entrepreneur
24-07-2025
- Business
- Entrepreneur
Veranda Learning Raises INR 357.42 Cr Through QIP to Strengthen Financial Position and Fund Growth
The offering saw strong interest from domestic and international institutional investors, including Authum Investment, Trust Mutual Fund, Resonance Opportunities Fund, Necta Bloom VCC, and Saint Capital Fund. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Veranda Learning Solutions, a leading education company offering integrated learning solutions, has successfully concluded its maiden Qualified Institutional Placement (QIP), raising INR 357.42 crore. The capital was secured through the issuance of 1,58,71,173 equity shares at a price of INR 225.20 per share, slightly below the floor price of INR 236.92. The offering attracted robust participation from both domestic and international institutional investors. Among the notable participants were Authum Investment, Trust Mutual Fund, Resonance Opportunities Fund, Necta Bloom VCC, and Saint Capital Fund. Shareholder approval for the QIP was obtained at the general meeting held on June 10, 2025. Suresh Kalpathi, Executive Director and Chairman of Veranda Learning, said the QIP was a "pivotal step towards achieving financial agility and operational scale." He added, "A large portion of the proceeds will be used to deleverage our balance sheet, including repayment of the Ascertis Credit facility, significantly improving our debt profile. The remainder will be invested in strategic growth initiatives across our verticals, aimed at unlocking long-term shareholder value." Approximately INR 310 crore of the funds will be directed towards repaying Non-Convertible Debentures issued to Ascertis Credit in early 2024. The remaining amount will support general corporate purposes such as content development, upgrading technological infrastructure, and enhancing platform scalability. The company said the strong investor response reflects confidence in its multi-vertical education model and long-term strategy. "This is a clear endorsement of our differentiated pedagogy, multi-modal delivery system, and our commitment to student outcomes," a Veranda spokesperson stated. Founded in 2018 by the Kalpathi AGS Group, Veranda Learning operates across various segments, including test preparation, school education, study abroad, software upskilling, and higher education. Its offerings are delivered via online, offline, and hybrid modes, with a focus on democratising access to quality education. Systematix Corporate Services served as the sole book-running lead manager for the transaction.
