Veranda Learning Solutions lists at 20% premium

Online and Offline learning solutions provider, Veranda Learning Solutions made a decent debut on the Indian bourses. Shares of Veranda Learning Solutions are listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) at a 20% premium over the issue price of ₹137 apiece. After the debut on the Indian Stock Exchanges, the market capitalization of the company stands at ₹875 crores, as per the Bombay Stock Exchange data. Today, the shares of Veranda Learning Solution were trading around ₹157. The Initial Public Offering (IPO) was open from March 29 to March 31. It was oversubscribed 3.53 times by investors.

The Grey market predicted listing gains to be around Rs. 15 but to the investors rejoice it posted a gain of Rs. 20. Veranda Learning Solutions provides coaching services for UPSC, chartered accountancy, banking, and government exams to students, graduates, professionals, and corporate employees, in both offline and online mode. However, it is still a loss-making company. In FY21, it posted a loss of Rs. 8 crores. Analysts had predicted an average opening for the stock and advised to avoid it. Vice president and head of research at Share India, Ravi Singhal said: “Veranda learning may open with a flat or mild discount on the listing day mainly due to the company’s dull fundamentals and lack of institutional interests. Investors may avoid taking any positions in the stock and subscribed investors may book their positions on the listing day.”