Strange India All Strange Things About India and world

The Rs 200-crore initial share sale of Veranda Learning Solutions will conclude on March 29.New Delhi: Educational technology firm Veranda Learning Solutions’ initial public offering (IPO) opened on Tuesday and the issue was subscribed 74 per cent on the first day. The Rs 200-crore initial share sale will conclude on March 29.The share sale attracted bids for 87.53 lakh equity shares against the issue size of 1.17 crore shares today.The qualified institutional buyers (QIB) category, which consisted of 75 per cent of the net offer, was booked at just 5 per cent. Veranda Learning has stated that five per cent of the net QIB will be available for mutual funds and the remaining portion will be available for allocation on a proportionate basis to all QIBs, mutual funds, subject to valid bids being received at or above the offer price.Retail individual investors’ portion — 15 per cent of the total issue — was subscribed 85 per cent; and non-institutional investors’ category — 10 per cent — was booked 4.15 times.The ed-tech firm has a fixed price band at Rs 130-137 per equity share for a face value of Rs 10 each. Bids can be made for a minimum of 100 equity shares and in multiples of 100 equity shares thereafter, Veranda Learning said.Systematix Corporate Services Ltd is the book-running manager, while KFin Technologies Private Ltd (formerly Karvy Fintech Private Ltd) is the registrar of the offer.

Source link

Leave a Reply

Your email address will not be published.