Chennai-based Veranda Learning raises Rs 357 crore through QIP to reduce debt

Chennai-basedVeranda Learning Solutions Ltd., a multi-vertical education technology company, has raised Rs 357.42 crore through its first-ever Qualified Institutional Placement, the company said in a regulatory filing.

The QIP round, which opened on July 17 and closed on July 22, resulted in the allotment of approximately 1.58 crore equity shares to domestic and global institutional investors at Rs 225.20 per share, a 4.95% discount to the floor price of Rs 236.92 as per SEBI ICDR Regulations.

The placement attracted interest from a mix of marquee investors. Authum Investment emerged as the largest participant, acquiring 44.77% of the QIP shares, while Singapore-based Necta Bloom VCC secured 11.19%. Other institutional buyers included Trust Mutual Fund, Resonance Opportunities Fund and Saint Capital Fund.

Veranda’s board approved the final allocation during a meeting held on Tuesday.

Of the proceeds, Rs 310 crore will be used to pare down existing debt, including the repayment of a facility from Ascertis Credit, according to Chairman and Executive Director Suresh Kalpathi. The remaining capital will support strategic investments across Veranda’s learning verticals, he said, without disclosing further operational details.

Following the issuance, Veranda’s total paid-up equity capital rose to Rs 93.60 crore from Rs 77.73 crore. The company now has 9.36 crore outstanding shares, up from 7.77 crore prior to the offering. A revised shareholding pattern will be submitted to stock exchanges in line with listing requirements, the company said.

The fresh capital is expected to help Veranda sharpen its competitive edge in India’s crowded edtech space, which has seen renewed investor interest in vertically integrated, outcome-focused learning providers.

Founded in 2018 by the Kalpathi AGS Group, Veranda delivers test preparation and professional training via online, offline and hybrid formats. The company operates across several segments, including competitive exam prep, study abroad services, and professional upskilling. Its offerings include coaching for government services exams, finance certifications and software skills development.

Systematix Corporate Services acted as the sole book-running lead manager for the QIP.