Bengaluru (Karnataka) [India], May 28: Veranda Learning Solutions Limited (“Veranda” or the “Company”), a company listed on BSE and NSE offering end-to-end solutions in the education space, has commenced its work as a Training Partner as per terms of the MoU with the KSDC (Karnataka Skill Development Corporation) to assist in the implementation of Wealth Management Course which is part of the Kalike Jothege Kaushalya, a state government initiative to provide skill development and career guidance to students in government colleges. The program will be delivered in Government colleges as a pilot project at Raichur and Gulbarga.
In 2022, Veranda had teamed up with the Tamil Nadu Skill Development Corporation (“TNSDC”) and trained over 20,000 students in upskilling courses such as Cloud Computing and Big Data Analytics. In 2023, another MoU was signed with TNSDC to train over 30,000 students.
Mr. Pravin Menon, Chief Marketing Officer, said that the MoU with KSDC will bolster Veranda’s presence in Karnataka, “We have had a great working relationship with TNSDC over the last two years and are now pleased to be joining hands with KSDC. It is an opportunity for Veranda to further its presence in Karnataka. We are exploring partnerships with other state government skill development corporations too.”
Mr. Suresh Kalpathi, Executive Director and Chairman of Veranda, believes it was a step in right direction for the Company in its mission to contribute to the nation’s skill development initiatives. “As promoters of Veranda, we are committed to providing comprehensive educational solutions. Our collaboration with KSDC is a key step in expanding our geographic footprint and continuing to deliver high-quality skill development programs across India.
This reinforces our confidence in the Company’s future prospects, as demonstrated by the promoters pledging their holding in equity shares of the Company as collateral for securing recent Rs 425 crores NCD raised by Veranda and its subsidiaries. Additionally, the Promoters have also recently infused Rs 46 crores into Veranda on exercise of warrants into equity shares at an exercise price of Rs.307 per equity share, which is at a substantial premium to the current market price helping secure the company’s financial future.” said Mr. Suresh Kalpathi.
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This press release contains certain forward-looking statements regarding our plans, strategies, intentions, and beliefs concerning our business and the markets in which we operate. We assume no obligation to update these statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from these forward-looking statements. Readers and investors are advised to exercise caution in taking an investment decision based on the above press release.
ABOUT VERANDA LEARNING SOLUTIONS
Founded in 2018 by the Kalpathi AGS Group – Veranda Learning Solutions is a public listed education company that offers a bouquet of training programs for competitive exam preparation, including State Public Service Commission, Banking, Insurance, Railways, IAS, and CA, as well as a slew of professional skilling and upskilling programs. Veranda Learning forayed into high-demand financial
courses such as Chartered Accountancy through India’s premier CA test-preparation institute, J. K. Shah Classes. Veranda Learning Solutions’ platform combines technology, processes, and methodologies to provide high-quality, in-depth, personalized learning opportunities and content to learners across the country. Dedicated to creating an impact on students and delivering successful academic outcomes, Veranda adopts a multi-modal delivery system backed by a rigorous and disciplined learning framework.
The company provides services through a host of brands: Veranda RACE, Veranda IAS, Edureka, Six Phrase, Veranda HigherEd, Edureka Learning Centre, SmartBridge, BAssure, Talent Academy, Talent Publications, PHIRE, Sreedhar’s CCE, JK Shah Classes, VerandaK12, Tapasya Educational Institution Private Limited and Logic School of Management. For more information, please visit www.verandalearning.com.
MEDIA CONTACT FOR VERANDA LEARNING SOLUTIONS
Rose Stephanie Justin – 8680 810342 [email protected] Puneet Chadha – 9884 440937 [email protected]
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