Anand Rathi Advisors acts as Financial Advisor and Arranger to the Veranda Group

Anand Rathi Advisors has announced that the Veranda Group has successfully raised debt financing of ~INR 425 cr.

Founded in 2018, Veranda is engaged in the business of offering diversified and integrated learning solutions in online, offline & hybrid blended formats to students, aspirants, graduates, professionals & corporate employees. Veranda operates a technology driven, asset light & scalable business model and provides a wide range of learning solutions through various courses including competitive exams preparation courses, professional courses, short term upskilling & reskilling courses.

BPEA Credit (BPEA) facilitated the debt arrangement to support the growth and expansion plans of the company.

Mr. Kalpathi S Suresh (Chairman & Executive Director) remarked, "This decision aligns with Veranda Learning's strategic vision to further solidify our position as a leader in the education space. The proceeds from the NCD issuance will be instrumental in supporting our expansion plans, enabling us to pursue strategic acquisitions, enhance operational efficiencies, and drive long-term value creation for our stakeholders."

Ms. Saradha Govindarajan (Chief Financial Officer) added, "We are extremely delighted on our association with Anand Rathi Advisors for this fund raise. They surpassed the expectation with their exemplary diligence, networking prowess, and proactive approach and helped facilitate the timely closure of the transaction for the company. We look forward to their continued dedication and enthusiasm in our future fundraising endeavors."

Speaking on the transaction, Mr. Samir Bahl (CEO, Anand Rathi Advisors) commented, "As bankers to the Veranda Group, we are privileged to arrange this round of funding for the company that will support the organization's growth strategy. We are happy to contribute to their endeavor to deliver top-tier education to a diverse array of learners, and we eagerly anticipate the positive impact it will have on shaping the future of education."

Mr. Atul Thakkar (Director - Anand Rathi Advisors) remarked, "Our steadfast commitment to the education sector is epitomized through our recent collaboration with Veranda on their debt deal. We stand poised to continue empowering Veranda's vision, fostering growth, and forging enduring partnerships for mutual success. We are honored to play a key role in their journey towards empowering learners and transforming lives."

Shares of Veranda Learning Solutions Limited was last trading in BSE at Rs. 178.45 as compared to the previous close of Rs. 183.35. The total number of shares traded during the day was 53487 in over 956 trades.

The stock hit an intraday high of Rs. 190.10 and intraday low of 174.50. The net turnover during the day was Rs. 9770781.00.

Source : Equity Bulls

Keywords

VerandaLearningSolutions INE0IQ001011 ELearning AnandRathiAdvisors FundRaising DebtFinancing