Veranda Learning Solutions IPO subscribed 74% on first day of offer

The initial public offering of Veranda Learning Solutions Limited received 74 per cent subscription on the first day on Tuesday.

The Initial Public Offering (IPO) received bids for 87,53,400 shares against 1,17,88,365 shares on offer, according to the NSE data.

The category for Retail Individual Investors (RIIs) was subscribed 4.15 times, while non-institutional investors received 85 per cent subscription and Qualified Institutional Buyers (QIBs) 5 per cent.

The IPO is for up to Rs 200 crore and the price range is Rs 130-137 per share.

Systematix Corporate Services is the book running lead manager to the offer.

The equity shares are proposed to be listed on both BSE and NSE.

The company is into offering diversified and integrated learning solutions in online, offline hybrid and offline blended formats to students, aspirants and graduates, professionals and corporate employees.