Shares of Veranda Learning Solutions have been consistently performing well since their listing day. Shares of the company rose by 10% on BSE today 229.25 Closed on reaching Rs. stock market 13 days ago Veranda Learning Solutions shares were listed. Shares of Veranda Learning Solutions made a great debut in the market. The company’s shares were listed on the BSE at Rs 157 per share with a premium of around 14% over the issue price. Its issue price was fixed at ₹130-137.
Shares jump 67% from issue price
Share of Veranda Learning Solutions has given a return of around 67% so far in its price band of Rs 137. Shares set a new record on BSE today and reached a high of 229.25 during trading. The company’s shares have jumped more than 15% in the last two days. The market cap of the company is Rs 1,278.65 crore. In fact, one of the major reasons behind the rise in shares is that the online and offline coaching services company recently announced the acquisition of TIME. This deal is about ₹ 287 crores.
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The company said in a recently issued press release that it would acquire TIME. According to the release, this 100 per cent acquisition will take place in Phase 1 with management control over 80 per cent of the outstanding capital in a phased manner, followed by purchase of the remaining 20 per cent at the end of two years. Management said TIME, which was one of the pioneers of online testing methodology in India, also gets to leverage Veranda’s core-engineering prowess to create the best in hybrid offering, which now includes the best for each of its programs. In-class products will be included.
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About Veranda Learning Solutions
Veranda Learning Solutions is an ed-tech company of The Kalpathi AGS Group and provides tuition for competitive exam preparation in India. This includes examinations related to State PSCs, Banking/Staff Selection/RRBs, IAS and CA besides upskilling programmes. The company provides online-offline teaching facility to students, candidates and graduates, professionals and corporate employees.