Veranda Learning IPO: Online education platform files draft papers with SEBI for Rs 200-crore listing

Veranda Learning Solutions Ltd on Thursday filed preliminary papers with the capital markets regulator Securities and Exchange Board of India (SEBI) for a Rs 200 crore initial public offering (IPO).

According to the draft red herring prospectus (DRHP), the online learning platform will raise money through the primary issuance of equity shares. It may also consider a pre-IPO placement of equity shares aggregating up to Rs 50 crore for cash consideration.

“A further issue of Equity Shares, in addition to the pre-IPO Placement, through a private placement to one or more persons, aggregating up to Rs 500 million ("Private Placement"), which may be undertaken by our Company in consultation with the BRLM, prior to the filing of the Red Herring Prospectus with the RoC,” the firm said in the DRHP.