The pandemic-triggered lockdowns forced educational institutions to move online in 2020. Also, amid the turmoil in the job markets, there was an urgency among professionals to upskill themselves. These two developments fuelled the growth of India’s young edtech industry. Investors poured money into this space, driving up the valuations of edtech companies to enviable levels.
Pouncing on this opportunity, Chennai-based Kalpathi Group launched the edtech platform Veranda Learning Solutions in December 2020. The group has been in the education sector since 1991 and had started by offering short-term computer software courses to students.
Now, the learning solutions company is all set to hit the bourse. Through the IPO route, Veranda Learning Solution plans to raise money for repaying its debt, funding its latest acquisition and other growth initiatives.
All about the IPO
The company provides learning solutions primarily through online (recorded videos and online live instructor), offline hybrid (classroom teaching supported with online assessments) and offline blended (a mix of online content and offline delivery) learning models. Its customer-base includes students, aspirants, graduates as well as professionals and corporate employees.
The company offers a variety of preparatory courses to students who are preparing for the UPSC Exams, State Public Service Commission, Staff Selection Commission, banking, insurance, railways exams and Chartered Accountancy. In the first nine months of FY22, a total of 42,667 students and professionals enrolled for its courses, with a majority of them opting for the online model.
As of December 31 2021, the company has 431 employees on its payroll and 400 outsourced employees.
Good to know
India’s educational technology market is expected to grow rapidly at a CAGR of 39% to $10.4 billion by 2025. Being a young edtech platform, Veranda Learning Solutions could benefit from the surge in demand for online learning.
You can pre-apply for Veranda Learning Solutions’ IPO from 28 March 2022. Once the IPO goes live, you will receive a UPI mandate. Accept this to block the IPO application amount and successfully place your bid.
Veranda Learning Solutions’ IPO is open for subscription between 29 March 2022 and 31 March 2022.
The lot size for Veranda Learning Solutions’ IPO is 100 shares and the minimum investment required is ₹13,700.
The price band for Veranda Learning Solutions’ IPO is ₹130-₹137 per share.
The size of Veranda Learning Solutions’ IPO is ₹200 crore.
You can place up to three bids for an application.
No, the bids have to be placed at one go. If you want to add an additional bid, then you would have to delete your application and re-apply.
Shares of Veranda Learning Solutions will list on BSE and NSE.
Shares of Veranda Learning Solutions will list on 7 April, 2022.