Listed edtech platform Veranda Learning to raise $37.6 million from its promoters and non-promoter entities through a preferential issue.
Veranda is a division of the Kalapathy Group. It provides a variety of test preparation courses for a variety of competitive exams, including insurance, banking, and railways. Furthermore, it provides skilling and upskilling courses to both students and working professionals. The convertible warrants will be converted into equity shares after 18 months from the date of allotment. According to the filing, Veranda will receive 25% of the convertible warrants, or INR 15.35 Cr, at the time of application.
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Listed edtech platform Veranda Learning to raise $37.6 million from its promoters and non-promoter entities through a preferential issue.
Veranda is a division of the Kalapathy Group. It provides a variety of test preparation courses for a variety of competitive exams, including insurance, banking, and railways. Furthermore, it provides skilling and upskilling courses to both students and working professionals. The convertible warrants will be converted into equity shares after 18 months from the date of allotment. According to the filing, Veranda will receive 25% of the convertible warrants, or INR 15.35 Cr, at the time of application.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
