Veranda Learning Solutions Ltd to raise funds through preferential issue

The Board of Directors of Veranda Learning Solutions Limited in its meeting held today i.e., September 14, 2022 considered and approved the fund raising proposal through preferential issue of shares and warrants to non-promoters and promoters.

The board approved proposal to issue and allot 77,97,718 equity shares of face value of Rs. 10/- each fully paid-up ("Equity Shares") to certain Non-Promoters entities, on a preferential basis, at a price of Rs. 307/- per Equity Share, subject to the approval of regulatory / statutory authorities and the shareholders of the Company.

The board approved proposal to issue and allot 20,00,000 Convertible Warrants ("Warrants"), each Warrant convertible into one (1) Equity Share to Promoters of the Company, on a preferential basis, at a price of Rs. 307/- per Warrant, subject to the approval of regulatory / statutory authorities and the shareholders of the Company.

The board also gave its approval for Related Party Transaction up to an aggregate limit of Rs.500 crores only subject to approval of shareholders at the ensuing Extra Ordinary General Meeting of the Company to be held on Thursday, October 06, 2022.

Source : Equity Bulls

Keywords

VerandaLearningSolutions PreferentialIssue Promoters NonPromoters Warrants EquityShares