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Veranda Learning Solutions Limited files DRHP with SEBI

Veranda Learning Solutions Ltd. (“VLS” or the “Company”), engaged in the business of offering diversified and integrated learning solutions in online, offline hybridand offline blended formats to students, aspirants, and graduates (collectively “Students”) professionals andcorporate employees (“Learners”), filed its DRHP with SEBI. The Initial Public Offer (IPO) consists of equity shares of face value of Rs. 10 each of Veranda Learning Solutions Limited aggregating up to Rs. 2,000million (the " Offer "). The Company may, in consultation with the BRLM, consider a Pre-IPO Placement of Equity Shares aggregating up to Rs. 500 million for a cash consideration (“Pre-IPO Placement”), prior to the filing of the Red Herring Prospectus with the Registrar of Companies, Chennai. The Pre-IPO Placement, if undertaken, will be at a price to be decided by the Company in consultation with the BRLM. The Company primarily provide services through online, offline hybrid and offline blended learning models. Their offlinehybrid learning model involves classroom teaching supported with online assessments and access to self-pacedlearning material to enhance recall and retention. The Company’s offline blended model involves a mix of Online content andOffline delivery, wherein the centre delivers LMS Study Materials together with traditional class room experienceof personal mentoring from Mentors, with a dedicated Mentor in each class room available for assistance to aStudents. VLS’s offline hybrid and offline blended learning models offer traditional class room experience ofpersonal mentoring from experienced Mentors along with highly curated digital content and online assessments. The Company proposes to utilise the Net Proceeds towards: (i) Repayment or pre-payment, in part or full of all or certain of the borrowings; (ii) Retirement of acquisition consideration of Edureka; and (iii) Growth initiatives. The Book Running Lead Manager to the offer is Systematix Corporate Services Limited. The equity shares are proposed to be listed on BSE and NSE.

Veranda Learning Solutions Limited files DRHP with SEBI
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