M&A

M&A

Veranda Learning to acquire Tapasya Educational Institutions for Rs.240-Cr

Press Release   BSE Announcement  

Chennai-based , publicly-listed Veranda Learning Solutions is to acquire a 100% stake in Hyderabad-headquartered Tapasya Educational Institutions Pvt Ltd for a minimum amount of INR 240 crore. Of this, a 51% stake is to be acquired for an upfront payment of INR 122.4 crore. Veranda will acquire the balance 49% stake in early 2028. The final amount payable will depend on Tapasya’s performance in 2027, with a floor price (for the overall deal) of INR 240 crore.Founded in 2009, Tapasya operates 19 inter/PU colleges and 10 degree colleges across 13 locations in Telangana and Karnataka offering services to over 13,000 students. It is expected to post a revenue of INR 65 crore and an EBITDA of INR 26 crore in FY24.