Veranda Learning Solutions to Divest Vocational Education Vertical for Rs. 390.11 Crores

Veranda Learning Solutions Ltd. has identified the buyer for the proposed divestment of its entire shareholding in the Vocational Education Vertical. The buyer is SNVA Edutech Limited, and the total consideration for the sale, dilution, and divestment of the Vocational Education vertical, including e Brain4ce Education Solutions Private Limited, e Veranda Management Learning Solutions Private Limited, and e Six Phrase Edutech Private Limited, is Rs. 390.11 Crores. The consideration will be settled by SNVA through the issuance of its equity shares, pursuant to which Veranda Learning Solutions Limited, together with Veranda Administrative Learning Solutions Private Limited, will hold collectively 50% equity stake in SNVA. The sale, dilution, and divestment will be effective upon receipt of Shareholder’s approval and all other approvals that may be required.