Veranda Learning Solutions was incorporated on November 21, 2018. The company is engaged in the business of offering diversified and integrated learning solutions in online, offline hybrid, and offline blended formats to students, aspirants, graduates, professionals, and corporate employees enrolled with courses through a multitude of career-defining competitive exams, professional courses, exam-oriented courses, short term upskilling and reskilling courses.
| Bidding Dates |
|---|
| 29 Mar 2022 - 31 Mar 2022 |
| Subscription |
|---|
| 3.53x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,700 | 1 | 14 | 100 | 14.6 M | ₹130 - ₹137 | 73.83 % | ₹1897.8 M - ₹2000.0 M | RHP DOC |
Veranda Learning IPO SUBSCRIPTION STATUS
31 Mar '22Veranda Learning IPO overall subscription rate was 3.53 times the total available shares
Veranda Learning IPO retail subscription rate was 10.76 times in the retail segment
Veranda Learning IPO non-institutional investor subscription rate was 3.87 times in the non-institutional investor category
Veranda Learning IPO Qualified Institutional Bidder subscription rate was 2.02 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
31 Mar 2022 (Day 3) | 10.76x | 3.87x | 2.02x |
30 Mar 2022 (Day 2) | 7x | 1.06x | 0.28x |
29 Mar 2022 (Day 1) | 4.15x | 0.85x | 0.05x |
Veranda Learning FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| H1FY22 | -182.69 | 154.63 | -49.92 | -70.49 |
| FY21 | -82.79 | 25.4 | -52.19 | -104.24 |
| FY20 | -1.96 | - | -0.63 | -0.63 |
| FY19 | -0.98 | - | -0.53 | -0.53 |
Veranda Learning IPO SUBSCRIPTION STATUS DETAILS
Veranda Learning had 14.6 M shares on offer
Veranda Learning IPO offer price was in the range ₹130 - ₹137
Veranda Learning IPO minimum Investment was ₹13700
Veranda Learning IPO issue size was ₹ 1897.8 M - ₹ 2000.0 M
Veranda Learning had a minimum lot size of 100 Shares per application
Veranda Learning NUMBER OF SHARES ON OFFER
Veranda Learning IPO IMPORTANT DATES
| Issue Open Date | 29 Mar 2022 |
| Issue close Date | 31 Mar 2022 |
| Allotment Date | 05 Apr 2022 |
| Refund Date | 06 Apr 2022 |
| Demat Account Credit Date | 06 Apr 2022 |
| Listing Date | 07 Apr 2022 |
| Listing on Exchange(s) | NSE and BSE |
| Veranda Learning Allotment Status | Exchange |
Veranda Learning IPO subscription opened on 29 Mar 2022, and closed on 31 Mar 2022
IPO allotment for Veranda Learning was finalized on Tuesday, 05 Apr 2022
IPO listing for Veranda Learning was on NSE and BSE on Thursday, 07 Apr 2022
Veranda Learning IPO LISTING GAINS
| Issue Price (adjusted) | 137.0 |
| Listing Open Price | 171.0 |
| Listing Close Price | 160.4 |
| Listing Gain% | 24.8% |
| Current Gain% | 80.1% |
Veranda Learning Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Veranda Learning Solutions Ltd. | 246.7 | 1376 | 20.8 | 0.1 | 4.6 | 11 | 5.8 | 518.8 | 0.1 | 105.5 | 142.7 | 11.9 | 146.6 |
| NIIT Ltd. | 96.3 | 1318.3 | 146.6 | -1.9 | 3.3 | 0.5 | 0.4 | 456.7 | 4.4 | 5.3 | -88.5 | 0.7 | -79 |
| Vinsys IT Services India Ltd. | 578.4 | 853.1 | 28.2 | 18.7 | 12.4 | 270.2 | 26 | 30.2 | 0.7 | 20.5 | |||
| Aptech Ltd. | 94.7 | 549.5 | 22.5 | 1.3 | 1.1 | 9.5 | 5.5 | 519.8 | 9.2 | 23.5 | 23.3 | 4.2 | 17.8 |
| Compucom Software Ltd. | 13.2 | 104.4 | 36 | -1.9 | 3.1 | 2 | 1.4 | 40.9 | 2.1 | 2.9 | 94.4 | 0.4 | -19 |
| Jetking Infotrain Ltd. | 105.2 | 62.2 | -20.2 | 0 | 2.9 | -2.1 | -1.8 | 26.4 | -6.4 | -0.9 | -129 | -5.2 | -464.2 |
Veranda Learning INFORMATION ON IPO ISSUE
About Veranda Learning
Veranda Learning Solutions was incorporated on November 21, 2018. The company is engaged in the business of offering diversified and integrated learning solutions in online, offline hybrid, and offline blended formats to students, aspirants, graduates, professionals, and corporate employees enrolled with courses through a multitude of career-defining competitive exams, professional courses, exam-oriented courses, short term upskilling and reskilling courses.
Object of the Issue
1. Repayment/pre-payment, in part or full of all or certain of borrowings
2. Retirement of acquisition consideration of Edureka
3. Growth Initiative
4. General corporate purposes
Veranda Learning - PROMOTERS
| Name |
|---|
| Kalpathi S. Aghoram |
| Kalpathi S. Ganesh |
| Kalpathi S. Suresh |
Veranda Learning Book Running Lead Managers
Systematix Corporate Services Limited
mb.verandaipo@systematixgroup.in
Veranda Learning Registrar to the Offer
KFinTechnologiesLimited
veranda.ipo@kfintech.com
Veranda Learning Strengths
Extensive experience
Extensive experience in the education business and professionally qualified human capital
Track record
Proven track record of the Promoters
Result-oriented
Result-oriented method of teaching with a 360-degree approach
Veranda Learning Risks
Competitive intensity
The company has strong competition in the business of providing competitive exam-oriented courses
Dependency on delivery partner
Strongly dependent on Preferred Delivery Partners
Revenue concentration
A significant portion of the operating revenue is derived from exam-oriented courses offered by Veranda Race and IT-related professional courses offered by Edureka.
IPO FAQs
The promoters of the company are Kalpathi S. Aghoram, Kalpathi S. Ganesh and Kalpathi S. Suresh.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 130.0 - 137.0.
The IPO application opens on Mar 29, 2022 and closes on Mar 31, 2022.
The minimum lot size for the IPO is 100. The maximum lot size for the IPO is 1400.
For all category investors, the minimum application amount for this IPO is Rs. 13,700.0, the maximum value for this IPO is Rs 191,800.0.
This IPO will be allotted on Apr 05, 2022.
The refund will be credited to your account on Apr 06, 2022.
The allotted shares will be credited to your demat on Apr 06, 2022.
Veranda Learning Solutions Ltd.’s shares listed on the stock exchanges on Apr 07, 2022.