Veranda Learning takes strategic step towards deleveraging, to redeem NCDs worth ₹346.14 Crore issued to Ascertis Credit

Veranda Learning Solutions Limited (BSE: 543514 | NSE: VERANDA), a listed education company, has taken a major step towards reducing its debt of its subsidiary Veranda XL Learning Solutions Private Limited ("VXL"). As part of the funds raised through its Qualified Institutional Placement (QIP), ₹346.14 crore has been transferred to the designated escrow account to redeem Non-Convertible Debentures (NCDs) issued by VXL to Ascertis Credit (formerly Barings Private Equity Asia) in March and April 2024.

Key Highlights:

- ₹346.14 crore debt to be redeemed to Ascertis Credit
- Repayment funded primarily through proceeds from Veranda's first-ever ₹357.42 crore QIP

Mr. Mohasin Khan SP, Chief Financial Officer of Veranda Learning Solutions, said, "We are pleased to share a significant milestone in our journey toward becoming a leaner, more agile organization. This marks the first step in our strategic initiative to make the commerce vertical debt-free and unlock value for our shareholders. By retiring high-cost debt, we have not only strengthened our financial position but also created additional headroom to invest in innovation and future growth. This move reflects our continued commitment to disciplined execution, financial prudence, and long-term value creation for all stakeholders."

It may be noted that the company's restructuring committee had recommended a proposal to the Board the demerger and listing of a debt-free commerce vertical under the leadership of Mr. J.K Shah. The Board is set to meet on Monday July 28,2025 regarding the same.

The company remains committed to responsible capital deployment and will continue to strengthen its operational performance, technological infrastructure, and learner outcomes across the board.

Shares of Veranda Learning Solutions Limited was last trading in BSE at Rs. 224.95 as compared to the previous close of Rs. 221.40. The total number of shares traded during the day was 795550 in over 1551 trades.

The stock hit an intraday high of Rs. 227.90 and intraday low of 212.05. The net turnover during the day was Rs. 176681248.00.

Source : Equity Bulls

Keywords

VerandaLearningSolutions INE0IQ001011 ELearning Redemption NCDs