Veranda Learning Solutions' initial public offer (IPO) to raise up to Rs 200 crore hit the Street on Tuesday. Veranda Learning is a provider of online and offline coaching services. The IPO, comprising fresh issuance of shares worth Rs 200 crore, will close for subscription on March 31.

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The IPO of Veranda Solutions comes at a time when focus has returned to the IPO market after a gap of nearly two months.

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Here's all you need to know about the Veranda Learning Solutions IPO:

Issue price

Potential investors can bid for Veranda Learning Solutions shares in a price band of Rs 130-137 apiece under the IPO.

Lot size

Shares are available for bidding in multiples of 100. One lot of Veranda Learning Solutions shares will cost investors Rs 13,000-13,700.

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Objective

The company aims to use the proceeds from the IPO towards pre-payment or repayment or certain borrowings, the Edureka acquisition and growth initiatives, according to its draft red herring prospectus (DRHP).

Listing

Veranda Learning Solutions shares will be listed on stock exchanges BSE and NSE on April 7.

Investor categories

Under the Veranda Learning Solutions IPO, 75 percent of the total shares on offer are reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors (NIIs) and the remaining 10 percent for retail investors.

Company profile

Incorporated in 2018, Veranda Learning offers online and offline coaching services for a range of academic and professional courses such as UPSE, chartered accountancy, SSC and RRB.

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First Published:Mar 29, 2022 10:00 AM IST