Veranda Learning Solutions Limited has informed the Exchange about Agreements
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Veranda XL Learning Solutions Private Limited (VXL), a wholly-owned subsidiary of Veranda Learning Solutions, has signed a facility agreement with RBL Bank for a total of INR 125 Crores. The facility is split into an overdraft of Rs.2 Crores, Term Loan 1 of Rs.87 Crores, Term Loan 2 of Rs.25 Crores, and a working capital term loan of Rs.11 Crores. The listed parent company Veranda Learning Solutions is not a party to this agreement. As security, the promoters of Veranda Learning Solutions propose to pledge their equity shares in the listed company aggregating to Rs.62.50 Crores in favour of RBL Bank, though this pledge is yet to be executed. Additionally, three other subsidiaries — B.B. Virtuals, Tapasya Educational Institutions, and Navkar Digital Institute — will provide corporate guarantees and hypothecate their current and fixed assets.
While the debt is at the subsidiary level and not directly on Veranda Learning Solutions, the proposed pledge of promoter-held shares worth Rs.62.50 Crores is a notable signal of leveraged expansion funding. Retail investors should watch for the pledge execution and any further disclosures on end-use of these funds, as promoter share pledges can create downside risk if the subsidiary faces financial stress.