Veranda Learning Solutions board to mull fund raising

Veranda Learning Solutions said its board will consider the proposal of raising of funds by way of issue of equity shares or bonds or debentures on Wednesday, 14 September 2022.

The fund raising will be done through preferential issue on a private placement basis, rights issue or any other methods or combination thereof, subject to approval from the shareholders in the extra ordinary general meeting to be held on 6 October 2022 and approvals from the other regulatory authorities, as may be required.

Veranda Learning Solutions is engaged in the business of offering diversified and integrated learning solutions in online, offline hybrid and offline blended formats to students, aspirants, and graduates, professionals and corporate employees enrolled with its courses through multitude of career-defining competitive exams, professional courses, exam-oriented courses, short term upskilling and reskilling courses.

The company reported a consolidated net loss of Rs 20.07 crore in Q1 FY23 as compared to a net loss of Rs 5.14 crore posted in Q1 FY22. Net sales jumped 478.9% to Rs 28.19 crore in Q1 FY23 over Q1 FY22.

Shares of Veranda Learning Solutions fell 1% to Rs 333.05 on BSE.

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