Veranda Learning Solutions Ltd arm to acquire business for Rs. 11.75 crores

Veranda Race Learning Solutions Private Limited ("the Wholly-owned Subsidiary") ("Transferee Company") having entered into a Business Transfer Agreement ("BTA") dated: January 31, 2023 with Chennai Race Coaching Institute Private Limited ("Transferor Company"), for the acquisition of the Business of the transferor on the Transfer Date, as a going concern and the Transferee shall have deemed to accept, purchase, assume and acquire, as a going concern from the Transferor, all of the Transferor's rights, title and interest in and to the Business as defined in the BTA.

Chennai Race Coaching Institute Private Limited (the Transferor Company) has been engaged in the business of operating online and offline government and banking test prep courses.

The total consideration amount will be Rs. 11,75,00,000/- (Eleven Crores seventy-five lakhs rupees only) payable in the tranches.

Shares of Veranda Learning Solutions Limited was last trading in BSE at Rs. 223.05 as compared to the previous close of Rs. 234.00. The total number of shares traded during the day was 10591 in over 609 trades.

The stock hit an intraday high of Rs. 235.90 and intraday low of 222.50. The net turnover during the day was Rs. 2421998.00.

Source : Equity Bulls

Keywords

VerandaLearningSolutions INE0IQ001011 ELearning VerandaRaceLearningSolutions BTA Acquisition