Investment25 Feb 2026, 10:59 am
Veranda Learning Solutions Ltd Executes Agreements for INR 140 Crores Term Loan from City Union Bank Limited
AI Summary
Veranda Learning Solutions Ltd has executed agreements with City Union Bank Limited for a Term Loan of up to INR 140 Crores. The proceeds of the loan will be utilized towards the redemption of Non-Convertible Debentures (NCDs) issued by the company and its wholly owned subsidiary, Veranda Race Learning Solutions Private Limited. The loan is secured by a Term Loan Agreement and a Deed of Hypothecation. The details of the agreements are provided in Annexure A and Annexure B respectively.
Key Highlights
- Veranda Learning Solutions Ltd has executed agreements with City Union Bank Limited for a Term Loan of up to INR 140 Crores.
- The proceeds of the loan will be utilized towards the redemption of Non-Convertible Debentures (NCDs) issued by the company and its wholly owned subsidiary.
- The loan is secured by a Term Loan Agreement and a Deed of Hypothecation.
- The details of the agreements are provided in Annexure A and Annexure B respectively.
- The loan is secured by land, school buildings, and a personal and corporate guarantee from the promoters of the company.