Coaching service provider Veranda Learning Solutions is likely to finalise the allotment of shares offered through its initial public offering (IPO) on Tuesday. The Veranda Learning stock is likely to be listed on stock exchanges BSE and NSE on April 7.
Veranda Learning Solutions' IPO - which was open for bidding from March 29 to March 31 - saw an overall subscription of 2.2 times.
Here's how different categories of investors responded to the Veranda IPO:
| Category | Subscription (No. of times the shares offered) |
| QIB | 1.6 |
| NII | 2.1 |
| Retail | 5.7 |
The IPO of Veranda Learning Solutions comprised fresh issuance of shares worth up to Rs 200 crore.
Shares were available for bidding in a price band of Rs 130-137 in multiples of 100. At the upper end of the price range, one lot cost potential investors Rs 13,700.
How to check allotment status
Those who had bid for the Veranda Learning Solutions IPO can check the allotment status of their application online, through the website of BSE or that of the registrar, KFintech.
How to check allotment status through BSE's website
How to check allotment status through the registrar's website
Shares will be likely credited to the demat accounts of successful bidders and funds likely be credited to the bank accounts of others by April 6.
Grey market premium (GMP)
Veranda Learning has commanded a premium of around Rs 15 in the grey market - an unofficial market for unlisted securities - for the past few days, said dealers. (What grey market really is)
| Date | GMP (in rupees) |
| Apr 5 | 15 |
| Apr 4 | 15 |
| Apr 1 | 15 |
| Mar 31 | 15 |
| Source: IPO Watch | |
“The integrated learning solutions player has received a dull response from QIB and HNI investors. The issue looked expensively priced as the asking rate was almost 25 times the price-to-sales ratio for a loss-making company," Abhay Doshi, Co-Founder of Unlisted Arena, a portal that tracks grey markets and deals in unlisted securities, told CNBCTV18.com.
Doshi said he wouldn't be surprised if the listing happens in a flat to negative (discount to issue price) zone.
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