Home / Markets / Ipo /  Veranda Learning Solutions IPO opens tomorrow: Key things to know

The IPO of Veranda Learning Solutions will open tomorrow and the digital learning platform has fixed the price band at 130-137 per share for its 200 crore public offer. The IPO of Veranda Learning Solutions will remain open till March 31. The offer consists of a fresh issue of 200 crore.  After being subdued for some time, primary market will see share sales of two companies this week: Veranda Learning and UMA Export.

Veranda Learning Solutions IPO : Here are 10 things to know

10% of  the net offer in Veranda Learning Solutions IPO will be available for retail investors while 75% would be available for allocation on a proportionate basis to Qualified Institutional Buyers (QIBs) and up to 15% to non-institutional bidders. Veranda Learning Solutions shares are proposed to be listed on both BSE and NSE.

KFintech Private Limited is the registrar of the IPO and will manage share allocation and refund.  Systematix Corporate Services Limited is the manager to the offer.

The lot size of Veranda Learning Solutions IPO is 100 shares. 

KFintech Private Limited is the registrar for the IPO. 

Veranda Learning Solutions is an ed-tech venture from The Kalpathi AGS Group and offers training programs for competitive exams preparation in India, including State PSC, Banking/Staff Selection/RRB, IAS, and CA related exams apart from upskilling programs. 

The company began operations in 2020. For the six months, ending September 30, 2021, Veranda Learning Solutions had posted revenues of 15.6 crore while losses before tax stood at 18.4 crore.

The company is into the business of offering diversified and integrated learning solutions in online, offline hybrid and offline blended formats to students, aspirants and graduates, professionals and corporate employees.

According to brokerages, the share allotment in Veranda Learning Solutions IPO is likely to be finanlized on April 5 and the listing could happen on April 7, 2022. 

“Veranda is engaged in the business of offering diversified and integrated learning solutions in online, offline hybrid and offline blended formats. The company has initiated its operations in December, 2020 only and hence there’s not much track record to assess. The company posted a loss of 18.2 crores vs revenue of 15.6 crores only in 6MFY22. The sector is evolving and highly competitive with big players having capability to burn cash," said Abhay Doshi of Unlisted Arena.

“The asking price at almost 25x Price/Sales for a loss making company with a low track record seems expensive. The primary market sentiments is subdued and recent loss making companies have not been able to make impactful debut on the bourses," he added. 

 

 

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