Veranda Learning Solutions Limited has announced that its Allotment Committee, in a meeting held today, approved the allotment of 11,85,984 fully paid-up equity shares through a preferential issue. The shares, with a face value of ₹10 each, were issued at a price of ₹221 per share (including a premium of ₹211), aggregating to ₹26.21 crore.
This preferential issue was executed for consideration other than cash — specifically, as consideration for acquiring 1,059 equity shares of BB Publication Private Limited, resulting in Veranda Learning holding a 51% stake in the fully diluted equity of BB Publication.
Post this allotment, the company’s paid-up equity share capital increased from 7,65,45,114 shares to 7,77,31,098 shares.
The shares allotted will remain locked in as per SEBI regulations. The allotment was made to a single non-promoter investor — Bhanwar Lal Borana, who received all 11,85,984 shares.
The company had previously received in-principle approvals from both NSE and BSE for the issuance. This transaction aligns with Veranda Learning’s strategic growth plans, expanding its reach and capabilities through the acquisition of BB Publication.
