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Mumbai, April 11 Shares of Veranda Learning Solutions made a mixed debut at the bourses on Monday.
Veranda Learning Solutions listed at a 14.60 per cent premium on the BSE at ₹157, up ₹20.00 from its IPO price of ₹137.
It climbed to a high of ₹163 post listing. At 10:15 am, it was trading at ₹159.30, up ₹22.30 or 16.28 per cent over the IPO price.
However, the shares listed at a discount of 8.76 per cent at ₹125.00 on the NSE, down ₹12.00 from the IPO price. It was trading at ₹131.25, down ₹5.75 or 4.20 per cent.
The company had fixed the IPO price at ₹137 a share, as the upper end of the price band of ₹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.
IPO 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.
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.
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