Veranda Learning Solutions Limited’s shares rose by 2.08% following the company’s acquisition of a 50% stake in Tapasya Educational Institutions Private Limited for Rs 120 crore.
According to the company, the addition of Tapasya will enhance Veranda’s ecosystem, particularly in the Commerce Higher Education space. Veranda Learning aims to leverage Tapasya’s existing network, expanding offerings in competitive exams like CA while benefiting from regional expertise. On the other hand, Tapasya stands to gain from Veranda Learning’s experience in curriculum development, technology integration, and student support services.
Tapasya Educational Institutions, established in 2009, operates 19 Inter/ PU Colleges and 10 Degree Colleges across 13 locations in Telangana and Karnataka, catering to over 13,000 students. The institution covers Intermediate, Pre-University, Graduation courses (B.Com and BBA), Professional Courses (CA and CMA), and Integrated programs. TEIPL is expected to generate a revenue of Rs 65 crore with an EBITDA of Rs 26 crores for FY24.
Following the announcement, Veranda Learning Solutions Limited’s shares were up by 0.57% to Rs 317.45 at close on the BSE.
