Veranda selects bankers to raise ₹700 crore for buyouts, growth

Edtech company Veranda Learning Solutions Ltd is looking to raise 700 crore ($84.2 million) to fuel acquisitions and business growth, three people aware of the development said. Of this, ₹400 crore may be in debt and the remaining in equity.

- Beena Parmar 

 

A big chunk of the funds raised will likely be utilized towards acquisitions while some will be deployed towards organic business growth, one of the three people said. The Kalpathi Group company has appointed Anand Rathi Advisors and IndCorp Advisory to manage the funding plans, the second and third persons said, all three of whom spoke on condition of anonymity.