IPO Veranda Learning Solutions Subscribe 74% On Day 1

The sale of the initial shares of Veranda Learning Solutions worth Rs 200 crore will end on March 29.

New Delhi:

The initial public offering (IPO) of educational technology firm Veranda Learning Solutions opened on Tuesday and the issue was subscribed 74 percent on the first day. The initial share sale of Rs 200 crore will end on March 29.

The sale of the shares attracted bids for 87.53 lakh equity shares compared to the issue size of 1.17 crore shares today.

The eligible institutional buyers (QIB) category, which makes up 75 percent of net deals, is booked at only 5 percent. Veranda Learning has stated that five percent of the net QIB will be available for mutual funds and the remaining portion will be available for proportional allocation to all QIBs, mutual funds, subject to valid bids received at or above the offer price. .

The share of individual retail investors – 15 per cent of total issuances – was 85 per cent subscribed; and the non -institutional investor category – 10 per cent – booked 4.15 times.

The ed-tech firm has a fixed price band of Rs 130-137 per equity share for a face value of Rs 10 each. Offers can be made for at least 100 equity shares and in multiples of 100 equity shares thereafter, Veranda Learning said.

Systematix Corporate Services Ltd is the manager running the books, while KFin Technologies Private Ltd (formerly Karvy Fintech Private Ltd) is the registrar of the offer.


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