Veranda Learning IPO Price Band: For the first time any coaching institute is going to enter the stock market. The IPO of Veranda Learning Solutions, which provides offline-online coaching for UPSE, CA, Banking and other government exams, is coming soon.
Veranda Learning Solutions is going to launch its initial public offering i.e. IPO on March 29. This IPO will open till March 31. The company has fixed the IPO price band at Rs 130-137 per share.
Veranda had filed the IPO document with market regulator SEBI in November last year. This issue includes a fresh offer of equity shares up to Rs 200 crore. The funds raised through the IPO will be used by Veranda Learning Solutions for debt repayment, growth and general corporate purposes. 75 per cent of this IPO is reserved for QIBs while 15 per cent is reserved for non-institutional investors. 10 per cent is reserved for retail investors.
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Veranda Learning IPO
Target to raise Rs 200 crore through IPO.
The IPO will be open for subscription between March 29-31.
The price band has been fixed at Rs 130-137 per share.
– Lot size is of 100 shares.
Investors will have to invest at least Rs 13,700.
The face value of the shares is Rs 10 per share.
– Allotment of shares is likely to happen on April 5 and listing on April 7.
Veranda Learning provides integrated learning solution in online and offline mode. The company provides its facilities to students, professionals and corporate employees through its 4 subsidiaries. Veranda Race Learning Solutions, Veranda XL Learning Solutions, Veranda IAS Learning Solutions and Brain4ce Education Solutions (Edureka) are subsidiaries of the company.
Tags: IPO, Share market, stock market
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