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This raise includes an investment of Rs 61.4 crore to be subscribed by the promoters in the form of convertible warrants
The fire department said that the information regarding the blaze in the high-security area was received at 4.16 PM, following which five fire tenders were rushed to the spot
Veranda Learning was locked at the upper circuit for the eight straight trading day, up 5 per cent at Rs 291.20 on the BSE, and had zoomed 70 per cent since April 20.
The initial public offering of Veranda Learning Solutions Limited received 74 per cent subscription on the first day on Tuesday
Radiant Cash Management Services and Veranda Learning Solutions have received the go ahead from capital markets regulator Sebi to float their IPOs.
The company has set the price band for its IPO between Rs 130-137 per share.
At 10:22 am; the stock locked in upper circuit of Rs 164.85, after hitting a low of Rs 149.15 in intra-day trade on the BSE, against issue price of Rs 137 per share.
Veranda has raised Rs 200 crore in fresh capital, which will be used to repay debt and for expansion
The 20-per-cent divergence in the first day closing price exposed the chinks in the price discovery process, especially for smaller companies
In the past two days, the stock has rallied 15% after the company signed a definitive agreement to acquire T.I.M.E. (Advanced Educational Activities Pvt Ltd) for a consideration of Rs 287 crore