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Veranda Learning Solutions IPO listing at a rapid pace

Veranda Learning Solutions IPO: The listing of the IPO of Veranda Learning Solutions has happened rapidly on the stock exchange. The listing of the company on the Mumbai Stock Exchange was up by 14.60 percent at Rs 157. However, the listing of the stock on the National Stock Exchange fell by 8.7 percent at Rs 125 per share. At present, the stock is trading at Rs 164 with a gain of 20 per cent.

The IPO of Veranda Learning Solutions came at a price of Rs 137 per share. The company had come out with an IPO of Rs 200 crore, which opened between March 29 and 31 and was subscribed 3.53 times. The reserve quota for retail investors was subscribed 10.76 percent, the quota for non-institutional investors was 3.87 percent and the reserve quota for institutional investors was subscribed 2.02 percent.

For the financial year 2020-21, Veranda had recorded a loss of Rs 8.3 crore on revenue of Rs 2.54 crore. Whereas in the six months ended September 2021, it had a loss of Rs 18.3 crore on a revenue of Rs 15.46 crore. The diversified and integrated learning provider will repay the loan through the proceeds linked to the IPO. Apart from spending the money to pay for the acquisition of Edureka, the focus will be on the expansion plan. Let us tell you that Veranda Learning Solutions offers short term and long term courses to prepare for the examination of Union Public Service Commission, State Public Service Commission, Staff Selection Commission, Banking, Insurance, Railway and Chartered Accountancy.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from digitnews.in Also investing money is never advised here.)

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