Chennai, July 28 -- Listed education company Veranda Learning Solutions has announced a strategic restructuring of its Commerce vertical as part of its Veranda 2.0 vision.
As part of the rejig, Veranda Learning Solutions will acquire the remaining 24% equity stake held by Prof. J.K. Shah in Veranda XL Learning Solutions Pvt Ltd, the principal company within the Commerce portfolio.
This transaction will result in Veranda XL becoming a wholly owned subsidiary, thereby simplifying the group structure and easing the path to demerger.
Following the in-principle nod from its Restructuring Committee, Audit Committee, the Board has approved the incorporation of a wholly owned subsidiary by the name J.K. Shah Commerce Education Limited whic...