Shares of Veranda Learning Solutions will be listed at the bourses today. The company has fixed the IPO price at ₹137 a share, as the upper end of the price band ₹130-137. The IPO of Veranda Learning Solutions was subscribed 3.53 times at the end of the final day of bidding. Against an offer size of 1.17 crore equity shares, the issue garnered bids for 4.15 crore equity shares.
Heavy retail subscription
While the qualified institutional buyers category was subscribed 2.02 times, the non-institutional investors’ portion was subscribed 3.87 times. The retail portion was subscribed 10.76 times. The Chennai-based edtech company plans to raise ₹200 crore through IPO. The price band for the offer was ₹130-137 a share.
Ahead of the public issue, the Chennai-based edtech had raised ₹46.75 crore from three anchor investors — AG Dynamic Funds picked up ₹25 crore worth of equity shares; Resonanace Opportunities Fund bought ₹10 crore; and Next Orbit Ventures invested ₹11.74 crore.