AI assistant
Veranda Learning Solutions Limited Capital/Financing Update 2024
59607_rns_2024-03-18_c8ca06f5-a9aa-4707-ba0a-beaf1a772c8a.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
Veranda Learning Solutions Limited
18th March 2024
| 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 | ScripCode:VERANDA |
Sir / Madam,
Sub: Intimation of the Board Meeting under Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
We hereby inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, 21st March 2024, inter alia, to consider and approve the raising of funds by way of the issuance of senior, secured, redeemable, unlisted and unrated Non-Convertible Debentures (NCDs) by the Company for refinancing existing loans, working capital and general corporate purposes.
Further, the following material subsidiaries of the Company will be raising funds by way of issuance of senior, secured, redeemable, unlisted and unrated Non-Convertible Debentures (NCDs) for funding acquisitions, refinancing existing loans, working capital and general corporate purposes.
The amount to be raised by the issuance of senior, secured, redeemable, unlisted and unrated Non-Convertible Debentures (NCDs) is upto INR 425 Crores, as per the table given below:
| Facility | Issuer | Amount |
|---|---|---|
| Facility 1 | VerandaLearningSolutionsLimited | Series 1: INR 25 Cr |
| (VLSL) | ||
| Facility 2 | Veranda XL Learning Solutions Private | Series 1: INR 142 Cr |
| Limited (VXL) | Series 2: INR 142 Cr | |
| Series 3: INR 11 Cr | ||
| Series 4: INR 15 Cr | ||
| Facility 3 | Veranda Race Learning Solutions Private | Series 1: INR 90 Cr |
| Limited (VRACE) |
In addition to the above, there shall be two Discretionary Tranches as follows: Discretionary Tranche 1: upto INR 20 Cr to be issued by VRACE ("Series 2" under Facility 3)
+91 44 4296 7777 34, Thirumalai Road, T.Nagar, Chennai, Tamil Nadu-600017 CIN: L74999TN2018PLC125880
Veranda Learning Solutions Limited
Discretionary Tranche 2: upto INR 100 Cr to be issued by VLSL ("Series 2" under Facility 1)
Disbursement of the Discretionary Tranches shall be at the discretion of the investors in one or more tranches, and subject to such conditions as may be stipulated by the investors.
This information will also be posted on the Company's website at www.verandalearning.com.
Kindly take the same on record and display the same on the website of your exchange.
Thanks & Regards For Veranda Learning Solutions Limited Digitally signed by M
M ANANTHARAM AKRISHNAN ANANTHARAMAKRISHNA N Date: 2024.03.18 15:39:02 +05'30'
M Anantharamakrishnan Company Secretary & Compliance Officer M. No: ACS-7187
[email protected] m www.verandalearning.com
+91 44 4296 7777 34, Thirumalai Road, T.Nagar, Chennai, Tamil Nadu-600017 CIN: L74999TN2018PLC125880