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Veranda Learning Solutions has received approvals to raise ₹250 crore through a preferential issue, the Chennai-based listed provider of end-to-end education solutions announced on Thursday. The funds will be directed toward acquisitions, deferred consideration payouts, and scaling existing business operations, the company said.
According to the company, this fundraising forms part of its broader financial strategy for the year. Commenting on the development, Executive Director and Chairman Kalpathi S. Suresh said, “This successful fundraising equips Veranda with a robust capital base to drive our next growth phase. We’re on track to complete all acquisitions this financial year, with no further equity dilution expected.”
The freshly raised funds will be deployed towards two acquisitions. The company has announced the acquisition of a 51% stake in BB Publications Private Limited (BB Virtuals) for ₹126.2 crore and a 65% stake in Navkar Digital Institute Private Limited for ₹45.5 crore. These acquisitions aim to aid Veranda’s offerings in the CA/CMA coaching segment.
BB Virtuals, led by CA educator Bhanwar Borana, specializes in online CA preparation. With over 200,000 students taught and 500 rank-holders produced. Navkar, an offline coaching provider in Gujarat led by Hiteshkumar Shah.
Four-Pillar Growth Strategy
Veranda said that it is focused on unlocking value across its four core verticals: academics, commerce, government test preparation, and study abroad. The commerce segment has been a strong performer, with an expected EBITDA of ₹120 crore by FY25 and PAT of ₹100 crore by FY26.
To streamline operations, it plans a corporate restructuring exercise to align its existing entities with these verticals, driving efficiency and growth.
Board Rejig
Veranda is also working towards enhancing its corporate governance. It recently appointed three new board members, including Prof. Jitendra Kantilal Shah, founder of JK Shah Classes, and Prof. Ashok Misra, former director of IIT Bombay. In addition, it has elevated Aditya Malik to Group COO to lead operations. This board rejig also marks the end of tenure for former joint MD of Jyothy Labs Ltd (JLL), K Ullas Kamath as a non-independent executive director.
On Sept 5, CNBC-TV18 had exclusively reported that the Chennai-based edtech company is in talks to acquire a privately owned, private equity-backed unlisted edtech company. Sources have now told CNBC-TV18 that an announcement is soon expected on the same.
Shares of Veranda Learning closed at ₹263.11 a piece, down about 3% from its opening price.
Also Read : FMCG, banks weigh on Nifty 50; Sensex drops 236 points to 81,290
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According to the company, this fundraising forms part of its broader financial strategy for the year. Commenting on the development, Executive Director and Chairman Kalpathi S. Suresh said, “This successful fundraising equips Veranda with a robust capital base to drive our next growth phase. We’re on track to complete all acquisitions this financial year, with no further equity dilution expected.”
The freshly raised funds will be deployed towards two acquisitions. The company has announced the acquisition of a 51% stake in BB Publications Private Limited (BB Virtuals) for ₹126.2 crore and a 65% stake in Navkar Digital Institute Private Limited for ₹45.5 crore. These acquisitions aim to aid Veranda’s offerings in the CA/CMA coaching segment.
BB Virtuals, led by CA educator Bhanwar Borana, specializes in online CA preparation. With over 200,000 students taught and 500 rank-holders produced. Navkar, an offline coaching provider in Gujarat led by Hiteshkumar Shah.
Four-Pillar Growth Strategy
Veranda said that it is focused on unlocking value across its four core verticals: academics, commerce, government test preparation, and study abroad. The commerce segment has been a strong performer, with an expected EBITDA of ₹120 crore by FY25 and PAT of ₹100 crore by FY26.
To streamline operations, it plans a corporate restructuring exercise to align its existing entities with these verticals, driving efficiency and growth.
Board Rejig
Veranda is also working towards enhancing its corporate governance. It recently appointed three new board members, including Prof. Jitendra Kantilal Shah, founder of JK Shah Classes, and Prof. Ashok Misra, former director of IIT Bombay. In addition, it has elevated Aditya Malik to Group COO to lead operations. This board rejig also marks the end of tenure for former joint MD of Jyothy Labs Ltd (JLL), K Ullas Kamath as a non-independent executive director.
On Sept 5, CNBC-TV18 had exclusively reported that the Chennai-based edtech company is in talks to acquire a privately owned, private equity-backed unlisted edtech company. Sources have now told CNBC-TV18 that an announcement is soon expected on the same.
Shares of Veranda Learning closed at ₹263.11 a piece, down about 3% from its opening price.
Also Read : FMCG, banks weigh on Nifty 50; Sensex drops 236 points to 81,290
(Edited by : Poonam Behura)
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