Veranda Learning Raises INR 357.42 Cr Through QIP to Strengthen Financial Position and Fund Growth The offering saw strong interest from domestic and international institutional investors, including Authum Investment, Trust Mutual Fund, Resonance Opportunities Fund, Necta Bloom VCC, and Saint Capital Fund.
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Veranda Learning Solutions, a leading education company offering integrated learning solutions, has successfully concluded its maiden Qualified Institutional Placement (QIP), raising INR 357.42 crore. The capital was secured through the issuance of 1,58,71,173 equity shares at a price of INR 225.20 per share, slightly below the floor price of INR 236.92.
The offering attracted robust participation from both domestic and international institutional investors. Among the notable participants were Authum Investment, Trust Mutual Fund, Resonance Opportunities Fund, Necta Bloom VCC, and Saint Capital Fund. Shareholder approval for the QIP was obtained at the general meeting held on June 10, 2025.
Suresh Kalpathi, Executive Director and Chairman of Veranda Learning, said the QIP was a "pivotal step towards achieving financial agility and operational scale." He added, "A large portion of the proceeds will be used to deleverage our balance sheet, including repayment of the Ascertis Credit facility, significantly improving our debt profile. The remainder will be invested in strategic growth initiatives across our verticals, aimed at unlocking long-term shareholder value."
Approximately INR 310 crore of the funds will be directed towards repaying Non-Convertible Debentures issued to Ascertis Credit in early 2024. The remaining amount will support general corporate purposes such as content development, upgrading technological infrastructure, and enhancing platform scalability.
The company said the strong investor response reflects confidence in its multi-vertical education model and long-term strategy. "This is a clear endorsement of our differentiated pedagogy, multi-modal delivery system, and our commitment to student outcomes," a Veranda spokesperson stated.
Founded in 2018 by the Kalpathi AGS Group, Veranda Learning operates across various segments, including test preparation, school education, study abroad, software upskilling, and higher education. Its offerings are delivered via online, offline, and hybrid modes, with a focus on democratising access to quality education.
Systematix Corporate Services served as the sole book-running lead manager for the transaction.
