Veranda Learning Solutions has successfully completed its first-ever Qualified institutional placement (QIP), raising Rs 357.42 crore to reduce debt and fuel growth. The QIP saw participation from several institutional investors, including Authum Investment, Trust Mutual Fund, Resonance Opportunities Fund, Necta Bloom VCC, and Saint Capital Fund, among others. 

This QIP marks a pivotal step towards achieving financial agility and operational scale. A large portion of the proceeds will be used to deleverage balance sheet, including repayment of the Ascertis Credit facility, significantly improving debt profile. The remainder will be invested in strategic growth initiatives across the company’s verticals, aimed at unlocking long-term shareholder value. Systematix Corporate Services was the sole Book Running Lead Manager for the transaction. 

Veranda Learning Solutions is engaged in the business of offering diversified and integrated learning solutions in online, offline hybrid and offline blended formats to students, aspirants, and graduates (collectively Students) professionals and corporate employees (learners) enrolled with its courses through multitude of career-defining competitive exams, professional courses, exam-oriented courses, short term upskilling and reskilling courses.