Veranda Learning Subsidiary to Issue ₹143 Cr NCDs

Veranda Learning Solutions Limited (VLS) announced that its wholly owned subsidiary, J.K. Shah Commerce Education Limited (JSCEL), has approved the issuance of Senior, Secured, Redeemable, Unrated and Unlisted Non-Convertible Debentures (NCDs) worth ₹143 crore. These NCDs will be issued on a private placement basis. The proceeds will be used by JSCEL for repaying its existing loan facility from RBL Bank Limited and for general corporate purposes. The NCDs have a tenure of 5 years, with a nominal interest rate of 0.001% per annum, payable on redemption. The principal and interest are secured by a charge on all movable and immovable assets of JSCEL.