Corrigendum to 02/2025-26 Notice of the Extra-Ordinary General Meeting of the Company to be held on Monday, August 25, 2025
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Veranda Learning Solutions has issued a corrigendum to its August 02, 2025 EGM notice after the National Stock Exchange (NSE) raised observations on the company's in-principle approval application for a preferential issue. The EGM is scheduled for August 25, 2025. The corrigendum provides additional disclosures on the proposed issuance of 20,16,124 equity shares (face value Rs. 10) to Mr. Jitendra Kantilal Shah (Non-Promoter) for consideration other than cash, linked to Veranda XL Learning Solutions Private Limited. Post-issue, the allottee's fully diluted shareholding will be 2.39%, well below the 5% SEBI ICDR threshold, with no change in control. The total share count will rise from 9.36 crore to 9.56 crore equity shares, with Annexure A revised to reflect post-issue fully diluted shareholding patterns.
The corrigendum is procedural and addresses NSE's compliance observations, not a change in business terms. Existing public shareholders face a marginal dilution (~2.15%) from the new issuance, but promoter control remains intact at ~40% on a fully diluted basis. No immediate material impact on stock price is expected from this disclosure.