Veranda Learning Solutions to raise Rs 300 crore in preferential issue

Chennai-based Veranda Learning Solutions (Veranda), a public listed EdTech company, said on Thursday that its Board of Directors has approved a preferential issue to  raise Rs 300 crore.

This will be subject to the approval of shareholders  at an EGM on October, 6.  This raise includes an investment of Rs 61.4 crore to be subscribed by the promoters in the form of convertible warrants.

The fundraise is through a mix of preferential offer of equity shares and convertible warrants both at a price of Rs 307 per share. Each warrant is convertible into one Equity Share and the conversion can