Multibagger stock: Shares of Veranda Learning Solutions have given returns of over 107% to its investors in 16 trading sessions. The stock was hitting the upper circuit of 10% continuously for a few trading sessions. These stocks have been consistently performing well since their listing day. The company’s shares closed at Rs 284, up 5 per cent on the BSE on Monday. Veranda Learning Solutions shares were listed on the stock exchange on 11 April 2022. 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.
Investors got multibagger returns
Share of Veranda Learning Solutions has given a return of around 107.3% so far in its price band of Rs 137. The company’s shares have jumped up to 40% in the last five trading days. 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. The company is buying a 100% stake in TIME.
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What does the company do?
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.