Veranda Learning Solutions Limited has informed the Exchange about Agreements

Veranda Learning Solutions has executed a Term Loan Agreement and Deed of Hypothecation with City Union Bank Limited on February 24, 2026, for a facility of INR 140 Crores. The proceeds will be used to redeem Non-Convertible Debentures (NCDs) issued by the company and its wholly owned subsidiary, Veranda Race Learning Solutions. Security includes collateral on land and school buildings in Chennai and Tiruchirapalli owned by Veranda K-12 Learning Solutions, personal guarantees from promoters Kalpathi S Aghoram, Kalpathi S Ganesh, and Kalpathi S Suresh, and corporate guarantees from group entities. Receivables and current assets of multiple subsidiaries have also been hypothecated, with SBICAP Trustee Company acting as Security Trustee. Additionally, promoters plan to pledge equity shares worth INR 50 Crores in the company, though that pledge agreement is yet to be executed.