Veranda Learning Solutions Secures Major Funding Boost with QIP

Veranda Learning Solutions Ltd successfully completed its first-ever Qualified Institutional Placement, raising Rs 357.42 crore. The funds will reduce debt and support growth, with investors including Authum Investment and Trust Mutual Fund. The company aims to improve its debt profile and invest in strategic growth initiatives.

Veranda Learning Solutions Ltd, a prominent education company based in the city, has successfully completed its inaugural Qualified Institutional Placement (QIP), securing Rs 357.42 crore.

The QIP attracted investments from multiple institutions such as Authum Investment, Trust Mutual Fund, and others.

According to executive director Suresh Kalpathi, the proceeds are set to enhance financial flexibility and scale operations, with significant allocations toward debt reduction and strategic growth initiatives.

(With inputs from agencies.)