Chennai, July 25 -- Listed education company Veranda Learning Solutions Limited today said it has reduced the debt of its subsidiary Veranda XL Learning Solutions Private Ltd (VXL).
The company board will meet on July 28, 2025 to decide on restructuring.
In a statement issued, the company said Rs.346.14 crore has been transferred to the designated escrow account to redeem Non-Convertible Debentures (NCDs) issued by VXL to Ascertis Credit (formerly Barings Private Equity Asia) in March and April 2024.
It may be recalled Veranda Learning had earlier said it had raised Rs.357.42 crore from Qualified Institutional Placement (QIP) primarily to reduce debt.
Mohasin Khan SP, Chief Financial Officer of Veranda Learning Solutions, said, "We are ...