In its endeavor to provide high-quality education and training through blended and offline learning models, Veranda RACE, part of the Veranda Learning Solutions, has now opened a new offline learning center in Vijayanagar, Bengaluru. This brand-new addition will be 43rd learning center for Veranda RACE.
Veranda Learning Solutions has signed an MoA with the Tamil Nadu Skill Development Corporation (TNSDC) to assist in the implementation of the Naan Mudhalvan scheme, aimed at providing skill development and career guidance to students in government colleges. Through this partnership, Veranda will not only help students across streams acquire industry-based skills, and become more job-ready, but will also help expand its own ‘No Student Is Left Behind’ mission.
Veranda Learning Solutions signed a definitive agreement for the acquisitions of equity shares of J.K. Shah Education Pvt Ltd through its wholly owned subsidiary, Veranda XL Learning Solutions Pvt Ltd. The said transaction will be completed in two phases, with the first phase seeing the payment of 76% of the outstanding capital together for INR 337.82 Crs. The entire transaction will be funded through a combination of Debt and Equity. J. K. Shah Classes has been a pioneer in coaching the CA, CS, and CMA aspirants in India for the last 39 years, and is one of the largest test-prep organisations in India.
Edureka signed up the Delivery Partner (DP) for its 100th Center in India and the first one in Indore. These Centers operate under the brand name of ‘Veranda Acacia, powered by Edureka’. Veranda aims to democratize access to high-quality education at an affordable price and is playing a vital role in helping the country meet the growing demand for talent across segments. This new Center will help bridge the digital skills gap in and around Indore city.
Veranda Learning Solutions Limited (“Veranda”) announced its financial results for the quarter ended June 30, 2022. Key consolidated financial highlights for Q1FY23 included: Revenue from operations at Rs. 286.32 million in Q1FY23 compared to Rs. 48.68 million in Q1FY22; a growth of 488.17% year on year, though on a lower base. The Gross Profit stood at Rs. 120.86 million with a Gross Profit margin of 42.21% in Q1FY23
Veranda RACE, a subsidiary of Veranda Learning Solutions (Veranda), launched the 25th RACE delivery partner centre in Krishnagiri, Tamil Nadu on June 10, 2022 in the presence of noted luminary Dr. M. Thambidurai - Member of Parliament(Rajya Sabha), Former Deputy Speaker, Former Union Cabinet Minister, Law, Justice and Company Affairs and Ministry of Surface Transport, Kalpathi S. Suresh - Executive Director cum Chairman, Veranda Learning Solutions, Dr. T. Lasya - Trustee, Lakshmi Saraswathi Educational Trust, and Bharath Seeman – CEO, Veranda RACE. Established in partnership with the reputed Vailankanni Academy, the 25th Veranda RACE in Krishnagiri aims to help candidates successfully pass the Tamil Nadu Public Service Commission (TNPSC), Banking and other Government competitive examinations every year going forward. The centre is equipped with smart classrooms and a high-tech computer laboratory.
Veranda Learning Solutions Limited, on May 12, 2022, launched Veranda Acacia, a comprehensive learning platform aimed to bridge the workplace-ready IT skills gap in India, through a nationwide network, with the signup of its first set of Delivery Centres across 25 locations. The Acacia Phase 1 programs for Full Stack Web Development, Cloud and DevOps, as well as Data Science are aligned to Competency Standards developed by SSC NASSCOM in collaboration with Industry and approved by Government of India.
IIM Raipur is collaborating with Veranda Learning Solutions Limited (“Veranda”), a public listed Education company (BSE: 543514, NSE: VERANDA), represented by its brand Edureka, and the Society for Human Resource Management (SHRM) to launch an Executive Post Graduate Programme (online MBA) in HR Management. The two-year master's degree programme will be offered in a blended mode via a combination of live synchronous sessions delivered on devices and face-to-face classes organized at the campus.
On April 11, 2022, Veranda Learning Solutions became the first Indian Education Technology company to be listed at the stock market. The Initial Public Offering (IPO) of Veranda Learning Solutions was subscribed 3.53 times. The company made its debut at Rs 157 a piece on the BSE, which was 14.6 % higher than its IPO price of Rs 137.
Edureka entered into a partnership with PURDUE University for online professional certificate programs. PURDUE has been named a Top 10 Most Innovative University by US News & World Report for the previous five years, as well as a Top 10 University with the Most International Students (Open Doors). These online programs will cover a wide range of topics and disciplines, including cloud computing, computer science, and Devops.
Veranda Learning Solutions broadened its portfolio by acquiring upskilling platform Edureka, a Bengaluru-based edtech platform for Rs 245 crore on September 23, 2021. The acquisition accelerated Veranda Learning Solutions’ foray into the edtech space besides expanding its portfolio offerings to include upskilling courses.
Veranda Learning Solutions acquired RACE in December 2020. RACE Institute offers coaching for banking and various other state and central government examinations. The transaction was valued at Rs 100 crores. On the association with RACE, Mr. Suresh Kalpathi, chairman, Veranda Learning Solutions, had said, “In RACE, we see an alignment with our philosophy of rigor and discipline in their education delivery, focus on outcomes and affordability. Race is a great brand as it opens new possibilities in the core areas of our business.”
Veranda Learning Solutions was incorporated as Andromeda Edutech Private Limited, a Private Limited Company under Companies Act 2013 pursuant to a Certificate of Incorporation dated November 21, 2018, issued by Registrar of Companies National Capital Territory of Delhi and Haryana. The name of the entity was changed to 'Veranda Learning Solutions Private Limited' pursuant to a fresh Certificate of Incorporation dated September 10, 2020, issued by the Registrar of Companies Chennai.
