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Veranda Learning Solutions Limited Capital/Financing Update 2022

Nov 17, 2022

59607_rns_2022-11-17_6151b2ed-41cb-457e-a6cd-375f76988a4c.pdf

Capital/Financing Update

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Veranda Learning Solutions Limited

(formerly Veranda Learning Solutions Private Limited) (formerly Andromeda Edutech Private Limited)

17[th ] November, 2022

7thNovember, 2022
To	To
The Secretary	The Manager,
BSE Limited	Listing Department,
Phiroze Jeejeebhoy Towers,	National Stock Exchange of India Limited
Dalal Street,	Exchange Plaza, C-1, G Block, Bandra-Kurla
Mumbai- 400 001	Complex, Bandra (East), Mumbai– 400 051
Scrip Code: 543514	Scrip Code: VERANDA

Subject: Disclosure under Regulation 30 of SEBI Listing (Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir / Madam,

We wish to inform you that the Company, as approved by the Board at its meeting held on 12[th] October 2022 has towards the subscription of 50,13,404 (Fifty Lakh Thirteen Thousand Four Hundred Four Only) Equity shares issued to the Company on Rights basis by Veranda XL Learning Solutions Private Limited (VXL), a wholly owned subsidiary of the Company infused a total consideration of Rs. 186,99,99,692(One Eighty-Six Crore Ninety-Nine Lakhs Ninety-Nine Thousand Six Ninety-Two).

VXL used this rights issue proceeds for the acquisition of 61.7% in J.K Shah Education Private Limited (“JKSHAH”) as was intimated to stock exchanges on 31.10.2022

We wish to further inform you that the board of VXL has allotted on 16.11.2022, 50,13,404 Equity shares having a face value of Rs. 10 each issued at Rs. 373/- per share including a premium of Rs. 363/- per share to the Company.