Veranda Learning Solutions’ IPO to raise up to Rs 200 crore was subscribed 92 percent so far on Wednesday, the second day of the bidding process. The initial share sale - which is an entirely fresh issuance of shares - opened for subscription on March 29 and will close on March 31.

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By 11:48 pm, the Veranda IPO received bids for 1.1 crore shares as against the 1.2 crore shares on offer.

The portion reserved for retail investors was booked 5.4 times, and that for non-institutional 93 percent. The quota meant for qualified institutional buyers (QIBs) saw a subscription of five percent.

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Under the Veranda Learning IPO, 75 percent of the total shares are reserved for QIBs, 15 percent for NIIs and 10 percent for retail investors.

Veranda Learning shares are available for bidding in a price band of Rs 130-137 apiece in multiples of 100 under the IPO. At the upper end of the price range, one lot will cost investors Rs 13,700.

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

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Veranda Learning is into offering diversified and integrated learning solutions in online, offline hybrid and offline blended formats to students, graduates, professionals and corporate employees.

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(Edited by : Sandeep Singh)

First Published:Mar 30, 2022 12:02 PM IST