Veranda Learning's Rs.200-Cr IPO subscribed 3.53 times

The initial public offering of Chennai-headquartered Veranda Learning Solutions, which offers online and offline coaching services, was subscribed 3.53 times. Veranda intended to raise INR 200 crore through the public issue with a price band set at INR 130-137 per share. Investors have put in bids for 4.15 crore equity shares against an offer size of 1.17 crore units. Retail subscribed 10.76 times the portion set aside for them. Non-institutional investors have bid 3.87 times their allotted quota, while qualified institutional buyers have subscribed 2.02 times the total reserved portion. Veranda offers coaching for UPSC exams, chartered accountancy, banking, tests for government jobs and more. It recorded a loss of INR 8.3 crore on a revenue of INR 2.54 crore in FY21.