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Listed edtech platform Veranda Learning to raise $37.6 million

Listed edtech platform Veranda Learning to raise $37.6 million from its promoters and non-promoter entities through a preferential issue.

Veranda is a division of the Kalapathy Group. It provides a variety of test preparation courses for a variety of competitive exams, including insurance, banking, and railways. Furthermore, it provides skilling and upskilling courses to both students and working professionals. The convertible warrants will be converted into equity shares after 18 months from the date of allotment. According to the filing, Veranda will receive 25% of the convertible warrants, or INR 15.35 Cr, at the time of application.

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