Intimation under regulation 30 read with Schedule III Part A Para A (1) of SEBI LODR Regulations 2015- Acquisition
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Saraswati Commercial (India) Ltd, an NBFC focused on investments in shares and securities, has subscribed to 4,44,049 equity shares of Veranda Learning Solutions Limited at Rs. 225.20 per share under the QIB (Qualified Institutional Buyer) category of Veranda's QIP issue. The total cost of acquisition is approximately Rs. 10 crore (Rs. 9,99,99,834.80), paid in cash on 22nd July 2025. Veranda Learning Solutions is a listed EdTech company with a consolidated turnover of Rs. 470.87 crore for FY25 and net worth of Rs. 256.96 crore. Veranda's overall QIP issue size is Rs. 380 crore. The transaction is not a related party deal, and allocation confirmation is awaited, with completion expected around 24th July 2025.
This is a routine financial investment by Saraswati Commercial (India) in its normal course of business as an NBFC. Since Veranda Learning Solutions is a separate listed entity, this is unlikely to materially affect Saraswati's own earnings, though it does expand its investment portfolio in the EdTech sector.