Veranda Learning Solutions IPO listing: Shares make decent debut on exchanges; list at 15% premium on BSE

Shares of Veranda Learning Solutions Limited made a decent debut on stock exchanges amid volatility in the secondary market on Monday. Against the issue price of Rs 137 per share, the stock of Chennai-based edtech company was listed at Rs 157 a share on the BSE. This is a gain of Rs 20 on each equity share or a premium of 14.60%. 

Earlier, Zee Business Managing Editor Anil Singhvi has said that Veranda Learning Solutions Can list around 10% premium to issue price of 137. "Investors must keep a stop loss of issue price," Singhvi had recommended.  

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The initial public offering (IPO) of Veranda Learning Solutions Limited has received good response from retail investors as the quota reserved for retail investor was subscribed 10.76 times. Qualified institutional buyers category was subscribed 2.02 times, while the non-institutional investors’ portion was subscribed 3.87 times.  

The IPO opened for subscription on March 29, Tuesday and close on March 31. The IPO price was fixed at Rs 130-137 per equity share. One lot comprisesd 100 shares and a minimum order quantity of 100 shares. The company's issue size aggregates to Rs 200 crore (fresh issue).    

The Chennai-based edtech company aims to raise ₹200 crore through IPO. The price band for the offer was ₹130-137 a share.