The initial public offering (IPO) of Veranda Learning Solutions Ltd got subscribed 1.31x for the second day on Wednesday. According to data available on NSE, bids were received for 1,54,39,800 shares against an offer of 1,17,88,365 shares under the company’s Rs 200 crore IPO.
The company’s IPO was subscribed seven times in the retail investors (RII) category and 1.06 times in the non-institutional investors category. The Qualified Institutional Buyers (QIBs) segment received 28 per cent subscription.
The price range for the Rs 200 crore IPO of education technology major Veranda Learning is Rs 130-137 per share. At least Rs 13,700 will have to be applied according to the upper price of the price range. According to the company, it can use the money raised from the IPO for acquisition of Edureka etc.
Veranda Learning’s IPO allotment is expected on April 5 and listing on April 7. Let us tell you that this company provides online and offline coaching service.