Chennai, July 23 -- Listed education company Veranda Learning Solutions Limited today said it has successfully completed its first Qualified Institutional Placement (QIP), raising Rs.357.42 crore of which Rs.310 crore will be used to repay non-convertible debentures (NCD) issued to Ascertis Credit (Formerly Barings Private Equity Asia) in March and April 2024.

The company raised the sum by issuing 1,58,71,173 equity shares of face value Rs.10 each.

The QIP saw strong participation from notable domestic and global institutional investors, including Authum Investment, Trust Mutual Fund, Resonance Opportunities Fund, Necta Bloom VCC, Saint Capital Fund and others.

The shareholder approval for the QIP was secured at the Extraordinary General...