Latest news with #VerandaLearningSolutions
Business Standard
5 days ago
- Business
- Business Standard
Veranda plans demerger of its commerce vertical
Veranda Learning Solutions has announced a strategic restructuring of its Commerce vertical as part of its Veranda 2.0 vision. This move aims to unlock long-term value, enhance operational agility, and accelerate growth in one of India's most competitive education domains. As part of the realignment, Veranda Learning will acquire the remaining 24% equity stake held by Prof. J.K. Shah in Veranda XL Learning Solutions, the principal company within the Commerce portfolio. This transaction will result in Veranda XL becoming a wholly owned subsidiary, thereby simplifying the group structure and easing the path to demerger. In line with the approved objectives of the Qualified Institutional Placement (QIP), a significant portion of the proceeds will be utilized to redeem the senior, secured, unlisted, redeemable, non-convertible debentures (NCDs) issued by the Company's subsidiary, Veranda XL Learning Solutions (Veranda XL) to Ascertis Credit (Formerly Barings Private Equity Asia). This redemption will enable the repayment of a majority of the subsidiary's existing debt. Post this transaction, the subsidiary which forms part of the Commerce verticalwill be on the path to becoming debt-free. Following the in-principle nod from its Restructuring Committee, Audit Committee, the Board have approved the incorporation of a wholly owned subsidiary by the name J.K. Shah Commerce Education Limited (or another name as may be approved by the appropriate authorities), which will serve as the platform for the vertical's operations going forward. The proposed Scheme of Arrangement is now progressing through requisite internal approvals before being submitted to the Board and regulatory bodies for its final clearance. The new entity will unify Veranda's top-performing commerce education brandsJ.K. Shah Classes, BB Virtuals, Navkar Digital Institute, Tapasya College of Commerce, and Logic School of Management into a single powerhouse delivering CA, CS, CMA, and ACCA test preparation. With a legacy of mentoring thousands of CA rankers over the years, the vertical has built a trusted reputation across India. This demerger is an important step towards building focused business units that can pursue independent growth strategies. The Commerce vertical has shown immense promise, and we believe this move will enable it to fully realise its potential, said Suresh Kalpathi, Executive Director and Chairman, Veranda Learning Solutions.
United News of India
25-07-2025
- Business
- United News of India
Veranda Learning Solutions board to decide on restructuring
Chennai, July 25 (UNI) Listed education company Veranda Learning Solutions Limited today said it has reduced the debt of its subsidiary Veranda XL Learning Solutions Private Ltd (VXL). The company board will meet on July 28, 2025 to decide on restructuring. In a statement issued, the company said Rs.346.14 crore has been transferred to the designated escrow account to redeem Non-Convertible Debentures (NCDs) issued by VXL to Ascertis Credit (formerly Barings Private Equity Asia) in March and April 2024. It may be recalled Veranda Learning had earlier said it had raised Rs.357.42 crore from Qualified Institutional Placement (QIP) primarily to reduce debt. Mohasin Khan SP, Chief Financial Officer of Veranda Learning Solutions, said, 'We are pleased to share a significant milestone in our journey toward becoming a leaner, more agile organisation. This marks the first step in our strategic initiative to make the commerce vertical debt-free and unlock value for our shareholders. By retiring high-cost debt, we have not only strengthened our financial position but also created additional headroom to invest in innovation and future growth. This move reflects our continued commitment to disciplined execution, financial prudence, and long-term value creation for all stakeholders.' According to Veranda Learning Solutions, its restructuring committee had recommended a proposal to the Board for the demerger and listing of a debt-free commerce vertical. The Board is set to meet on Monday July 28, 2025 regarding the same. UNI VJ ARN
Business Standard
18-07-2025
- Business
- Business Standard
Veranda Learning Solutions launches QIP with floor price of Rs 236.92/share
Veranda Learning Solutions informed that its board has approved the opening of the issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 236.92 per equity share. The company's board authorized and declared the opening of the issue on Thursday, 17 July 2025. The floor price of Rs 236.92 is at a discount of 11.15% to the scrips previous closing price of Rs 266.65 on the BSE. The company may offer a discount of not more than 5% on the floor price so calculated for the issue. The issue price will be determined in consultation with the book running lead managers appointed for the issue. Veranda Learning Solutions is developing & managing an integrated online-to-offline (O2O) EdTech platform which offers a wide range of learning programs for learners preparing for competitive and professional exams The company reported a 121.7% surge in consolidated net profit to Rs 8.36 crore on an 11.2% increase in net sales to Rs 114.11 crore in Q4 FY25 over Q4 FY24. The scrip rose 0.81% to currently trade at Rs 268.80 on the BSE.
Business Standard
29-05-2025
- Business
- Business Standard
Veranda Learning Solutions reports consolidated net profit of Rs 4.84 crore in the March 2025 quarter
Sales rise 11.21% to Rs 114.11 crore Net profit of Veranda Learning Solutions reported to Rs 4.84 crore in the quarter ended March 2025 as against net loss of Rs 41.00 crore during the previous quarter ended March 2024. Sales rose 11.21% to Rs 114.11 crore in the quarter ended March 2025 as against Rs 102.61 crore during the previous quarter ended March 2024. For the full year,net loss reported to Rs 247.62 crore in the year ended March 2025 as against net loss of Rs 79.71 crore during the previous year ended March 2024. Sales rose 30.17% to Rs 470.87 crore in the year ended March 2025 as against Rs 361.73 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 114.11102.61 11 470.87361.73 30 OPM % 17.3420.88 - 7.6314.93 - PBDT 22.99-16.79 LP -49.05-15.89 -209 PBT 5.33-39.34 LP -254.89-81.26 -214 NP 4.84-41.00 LP -247.62-79.71 -211
