Veranda study decisionslisted at ₹ 157 while shares are дар 137 distributed per share.
- The IPO received a well-deserved response from investors, as it was subscribed to 3.53 times on the last day of trading.
- The company has a market capitalization of 875 million pounds.
Shares of online and offline learning solutions provider Veranda Learning Solution were listed on the National Stock Exchange (NSE) and BSE with a 20% premium from the issue price of ₹ 137 on a valuable listing.
According to BSE, after the listing, the company’s market capitalization amounted to 875 million pounds.
Shares of Veranda Learning Solution traded at ₹ 157, up 14.6% from 10:01 a.m. on April 11.
The IPO was open from March 29 to 31 and was subscribed 3.53 times more by investors. Retail investors subscribed to the IPO 10.76 times.
The ои 20 listing profit is slightly higher than the gray market premium, which showed a ₹ 15 premium.
The company offers online and offline coaching services for career-defining courses such as UPSC, statutory accounting, banking and government exams to students, alumni, professionals and corporate employees. However, it is a loss-making entity that has suffered more than 8 million ₹ 8 losses in the 21st century.
Analysts were expecting a sluggish opening for the IPO and suggested refraining from further investment in the stock. “Veranda training can be opened with a flat or mild discount on the day of listing, mainly due to the dullness of the company’s fundamentals and lack of institutional interests. Investors can refrain from occupying any position in the stock and unsubscribed investors can occupy their positions on the listing day.” Ravi Singhal, vice president and research director of Share India.
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