The board of directors of Veranda Race Learning Solutions (Veranda Race), a material subsidiary of Veranda Learning Solutions, has approved the allotment of 1000 senior, secured, redeemable, unlisted, and non-convertible debentures of a nominal value of Rs 1,00,000 each, aggregating to Rs 10 crore (NCDs), to the investors identified by the board of directors of Veranda Race at its meeting held on 10 July 2024.Powered by Capital Market - Live News

Pearson is enhancing its strategic partnership with Veranda Race, a Veranda Learning enterprise and a well-known name in Test Preparation, to introduce a comprehensive and hybrid test preparation content for Bank Probationary Officers (Bank PO) examination in India. It is estimated that over 3 million students in India prepare for the Bank PO examinations annually. This comprehensive test preparation series, including 8 books and digital assessments, is designed with mock papers that closely simulate the entrance exams for Probationary Officers (PO) and Clerks conducted by IBPS and SBI.Powered by Capital Market - Live News

Net Loss of Veranda Learning Solutions reported to Rs 41.00 crore in the quarter ended March 2024 as against net loss of Rs 38.68 crore during the previous quarter ended March 2023. Sales rose 111.96% to Rs 102.61 crore in the quarter ended March 2024 as against Rs 48.41 crore during the previous quarter ended March 2023.For the full year,net loss reported to Rs 79.71 crore in the year ended March 2024 as against net loss of Rs 79.21 crore during the previous year ended March 2023. Sales rose 124.18% to Rs 361.73 crore in the year ended March 2024 as against Rs 161.36 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales102.6148.41 112 361.73161.36 124 OPM %20.88-42.53 -14.93-44.76 - PBDT-16.79-25.35 34 -15.89-43.97 64 PBT-39.34-43.02 9 -81.26-89.43 9 NP-41.00-38.68 -6 -79.71-79.21 -1 Powered by Capital Market - Live News

Veranda Learning Solution has allotted 20 lakh equity shares to the promoters of the company at Rs. 307 per share. This allotment follows the conversion of 20 lakh warrants, with the balance amount of Rs.46.05 crore, representing 75% of the warrant issue price being paid on 26 April 2024. Powered by Capital Market - Live News

Veranda Learning Solutions announced a strategic agreement with Pearson (FTSE: PSON.L), the world`s leading learning company, to synergize their expertise in content creation and delivery of resources for test preparation and higher education in India. With an initial focus on competitive test preparation and IT education content, Pearson and Veranda will explore broadening their collaboration to offer comprehensive hybrid learning solutions in the higher education sector in India.Through this collaboration, Pearson aims to expand the reach and accessibility of its hybrid learning solutions, catering to the evolving needs of learners across India. Leveraging its extensive experience and well-established presence in India, Pearson will deliver higher education solutions that meet the international standards while addressing the specific demands of the India job market. Veranda, leveraging its extensive experience in training students across diverse domains and geographies, will tailor educational content for Indian students by integrating its distinct pedagogical approaches. This partnership promises to provide Indian learners with a distinctive and highly impactful array of learning solutions for skill development, upskilling and reskilling. Powered by Capital Market - Live News