Veranda Learning Solutions has raised Rs 357.42 crore through its Qualified Institutional Placement (QIP).
The education technology company, known for its comprehensive offerings across the learning value chain, attracted robust interest from domestic and global institutional investors, signalling confidence in its strategic vision and long-term growth trajectory.
The QIP involved the issuance of over 1.58 crore equity shares at Rs 225.20 per share, slightly below the floor price of Rs 236.92.
The offering saw participation from prominent investors such as Authum Investment, Trust Mutual Fund, Resonance Opportunities Fund, Necta Bloom VCC, and Saint Capital Fund, among others.
Suresh Kalpathi, Executive Director and Chairman of Veranda Learning Solutions, described, “This marks a pivotal step towards achieving financial agility and operational scale. A large portion of the proceeds will go towards deleveraging our balance sheet, including repayment of the Ascertis Credit facility, significantly improving our debt profile.”
“The remainder will be deployed in strategic initiatives across our education verticals to unlock long-term shareholder value,” he stated.
Approximately Rs 310 crore from the raised capital will be allocated toward repaying Non-Convertible Debentures (NCDs) issued to Ascertis Credit, formerly Barings Private Equity Asia, thus significantly strengthening Veranda’s capital structure.
The rest will support technology infrastructure, content development, deferred payment obligations, and platform scalability.
The QIP not only improves the company’s financial flexibility but also broadens its institutional investor base, enhancing stock liquidity and visibility in the capital markets. Systematix Corporate Services served as the sole Book-Running Lead Manager for the transaction.
Founded in 2018 by the Kalpathi AGS Group, Veranda Learning has established a strong foothold in India’s edtech landscape. Its operations span K-12 education, test preparation, higher education, software upskilling, and overseas education.
With a tech-driven and outcome-oriented approach, the company continues to scale its mission of making quality education accessible to all.
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