Archive · 25 Jul 2025
Veranda Learning Moves to Reduce Debt with ₹346.14 Crore NCD Redemption
Veranda Learning, an education company, is taking steps to pay off some of its debt.
They used money they raised to pay back ₹346.14 crore in debt to Ascertis Credit.
This money was used to buy back bonds that Veranda XL Learning Solutions had issued earlier this year.
The company is trying to make its commerce business have no debt.
They are also planning to split off this part of the business and list it separately to create more value for its shareholders.
The board of directors will discuss this plan soon.
Veranda Learning transferred ₹346.14 crore to redeem non-convertible debentures (NCDs).
The NCDs were issued by Veranda XL Learning Solutions to Ascertis Credit in March and April 2024.
The funds for redemption came from a Qualified Institutional Placement (QIP).
The move is part of an initiative to make the commerce vertical debt-free.
The board will meet to discuss the demerger and listing of the debt-free commerce vertical.
- Who
- Veranda Learning Solutions Ltd.
- What
- Veranda Learning is redeeming non-convertible debentures.
- When
- The redemption happened after raising funds and the board met on a Monday.
- Where
- Chennai, where Veranda Learning is based.
- Why
- To reduce debt and strengthen its financial position.
- Company
- Veranda Learning Solutions Ltd.
- Amount Redeemed
- ₹346.14 crore
- NCD Issuer
- Veranda XL Learning Solutions Private Ltd
- Creditor
- Ascertis Credit (formerly Barings Private Equity Asia)
- Source of Funds
- Qualified Institutional Placement (QIP)
- Objective
- Make commerce vertical debt-free