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Veranda Learning completes first‑ever QIP worth Rs 357 Cr

EntrackrEntrackr · 1m ago
Veranda Learning completes first‑ever QIP worth Rs 357 Cr
Medial

Veranda Learning, an education company offering end-to-end learning solutions across the education value chain, has completed its first-ever Qualified Institutional Placement (QIP), raising Rs 357.42 crores through the issuance of 1,58,71,173 equity shares of face value Rs 10 each. The QIP witnessed participation from domestic and global institutional investors, including Authum Investment, Trust Mutual Fund, Resonance Opportunities Fund, Necta Bloom VCC, Saint Capital Fund, among others. The proceeds will be used to deleverage the balance sheet, including repayment of the Ascertis Credit facility and growth initiatives across verticals, aimed at unlocking long-term shareholder value, Veranda said in a press release. According to Veranda, the demand reflects broad endorsement of its differentiated multi-vertical education model and its long-term growth strategy. Systematix Corporate Services acted as the sole Book-Running Lead Manager for the transaction. Veranda Learning offers a variety of training programs, including competitive exam preparation for exams like State Public Service Commission, Banking, Insurance, Railways, IAS, and CA, as well as professional upskilling courses. The company operates through a multi-modal delivery system, including online, offline, and hybrid formats. Founded in 2018 by the Kalpathi AGS Group, Veranda Learning has a presence across schools, test prep, study abroad, software upskilling, and higher education. Its differentiated pedagogy, multi-modal delivery, and commitment to student outcomes have driven rapid expansion across India. It aims to democratize high-quality education at scale using technology, robust academic frameworks, and outcome-driven models.

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Veranda Learning promoters trim their 17% stake, Goldman Sachs and Authum step in

EntrackrEntrackr · 1d ago
Veranda Learning promoters trim their 17% stake, Goldman Sachs and Authum step in
Medial

Veranda Learning promoters trim their 17% stake, Goldman Sachs and Authum step in Edtech company Veranda Learning witnessed significant block deal activity on Tuesday, with a mix of institutional buying and promoters’ stake sales shaping the trade. Authum Investment & Infrastructure, a non-banking finance company with exposure to capital markets, emerged as the biggest buyer, picking up 58 lakh shares worth Rs 133.5 crore. Global investment bank Goldman Sachs (Singapore) also joined the buy-side, acquiring 7.6 lakh shares worth Rs 17.5 crore. On the selling side, promoters K S Ganesh, K S Suresh, and K S Aghoram offloaded 22 lakh shares each, accounting for nearly 17% of the promoters’ holding. These transactions were executed at an average price of around Rs 230 per share, aggregating to Rs 152 crore. Veranda Learning reported 17% year-on-year growth in its operating revenue to Rs 139 crore in the first quarter of FY26. Meanwhile, the company recorded a profit of Rs 6 crore in Q1 FY26 as compared to a loss of Rs 26 crore in Q1 FY25. The company’s total market capitalization stands at Rs 2,155 crore (approx $245 Mn).

Veranda Learning acquires 40.41% Stake in BB Virtuals and 65% in Navkar Digital

EntrackrEntrackr · 6m ago
Veranda Learning acquires 40.41% Stake in BB Virtuals and 65% in Navkar Digital
Medial

Veranda Learning acquires 40.41% Stake in BB Virtuals and 65% in Navkar Digital Veranda Learning Solutions has acquired a 40.41% stake in the CA coaching class BB Virtuals and a 65% stake in the offline coaching provider in Gujarat, Navkar Digital. Veranda Learning will buy an additional 10.59% stake in BB Virtuals by June 2025. This will strengthen Veranda Learning's position in commerce education across India, and its commerce division is expected to reach a pro forma EBITDA of over Rs 120 crore for FY25. Founded in 2018 by Kalpathi AGS Group, Veranda is a publicly listed digital learning platform offering test prep for government exams, banking, insurance, railways, and more. In December last year, Veranda Learning Solutions received approvals to raise Rs 250 crore through a preferential issue. Started by Bhanwar Borana, BB Virtuals is an online platform for CA and commerce aspirants. BB Virtuals claims to have trained over 200,000 students online, producing more than 500 all-India rank-holders. With BB Virtuals’ strong online presence, Veranda will amplify its reach, offering a wider range of resources to support students pursuing professional qualifications in the Commerce segment. Navkar Digital is a well-established offline education platform for chartered accountancy (CA), company secretary (CS), and cost & management accountancy (CMA) aspirants in Gujarat.

Listed education company Veranda Learning raises Rs 425 crore debt from BPEA Credit

IndianStartupNewsIndianStartupNews · 1y ago
Listed education company Veranda Learning raises Rs 425 crore debt from BPEA Credit
Medial

Veranda Learning, an education company offering competitive exam preparation and professional skilling programs, has raised Rs 425 crore through NCDs. The funds will be used for acquisitions, refinancing debts, and enhancing working capital. Veranda aims to dominate the education sector and sees this funding as instrumental in achieving strategic expansion goals. BPEA Credit's investment is a significant endorsement, and Anand Rathi Advisors highlights the attractiveness of the education sector for investors. Veranda has a successful acquisition strategy, with over Rs 1,000 crore invested and substantial revenue growth. Founded in 2018, Veranda offers a comprehensive educational ecosystem leveraging technology and personalization.

Agritech startup DeHaat completes its first ESOP buyback

EntrackrEntrackr · 1y ago
Agritech startup DeHaat completes its first ESOP buyback
Medial

Full stack agritech platform DeHaat has completed an employee stock ownership plan (ESOP) buyback program worth Rs 10 crore ($1.2 million). This is the first ever ESOP buyback for the Patna and Gurugram-based company. “The buyback saw 153 team members spread across senior vice president rank to field teams got the opportunity of wealth creation,” said Rishu Garg, who heads the people function at DeHaat. To date, DeHaat has issued ESOPs worth over Rs 100 crore ($12 million) to more than 200 individuals. DeHaat is a marketplace for the agricultural sector which offers distribution of high-quality agrarian inputs, advisory, lending, and market linkages for selling their produce. The company recently roped in Bollywood actor Pankaj Tripathi as its brand endorser and onboarded agri industry veteran Dr. K V Subbarao as its first Independent Advisor. DeHaat’s gross revenue grew 54.2% to Rs 1,965 crore in FY23 from Rs 1,274 crore in FY22. The company said that its revenue from operations increased 40% to Rs 2,700 crore while losses was reduced by 50% in FY24. The firm aims to achieve full year profitability during FY25. Dehaat has raised around $230 million to date and was valued at over $705 million according to startup data intelligence platform TheKredible. Last week, study abroad platform Leverage Edu announced its second ESOP buyback program. In the ongoing calendar year, Urban Company, MyGate, Classplus, Meesho, The Sleep Company, XYXX, and Pocket FM also completed their ESOP buyback scheme.

HealthKart raises $153 Mn, completes first ever ESOP buyback

EntrackrEntrackr · 9m ago
HealthKart raises $153 Mn, completes first ever ESOP buyback
Medial

Omnichannel nutrition platform HealthKart has raised $153 million led by ChrysCapital and Motilal Oswal Alternates. Existing investor A91 Partners along with Neo Group also participated in the new round. HealthKart owns and operates several nutrition brands including MuscleBlaze, HKVitals and Gritzo. Apart from online presence, the firm has over 200 retail stores across 90 cities. In December 2022, HealthKart raised $135 million led by Temasek with participation from A91 Partners and Kae Capital. According to the startup data intelligence platform TheKredible, the Gurugram-based firm has raised around $360 million to date. As per the company’s press release, it crossed 1,000 crore in revenue threshold in FY24, and also achieved full year EBITDA profitability during the said fiscal year. While the firm has yet to file the audited numbers officially, it recorded Rs 832 crore revenue in FY23 with a loss of Rs 76 crore. HealthKart spun off its generic drug search business, HealthKartPlus, in 2015 and rebranded it as 1mg, which now operates under Tata 1mg Technologies Private Limited. Along with the funding, HealthKart has also announced its first ever employee ESOP buyback plan worth Rs 55 crore ($6.5 million). The buyback will benefit both current as well as former employees. According to TheKredible’s data, more than 20 startups have implemented ESOP buyback, liquidity, and payout programs worth around $200 million in the ongoing calendar year (2024).

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