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Veranda Learning Solutions Limited’s shares were up by 2.08 per cent after the company acquired a 50 per cent stake in Tapasya Educational Institutions Private Limited for Rs 120 crore.
The company reported, the addition of Tapasya will enhance Veranda’s ecosystem, particularly in the Commerce Higher Education space. Veranda Learning aims to leverage Tapasya’s existing network, expanding offerings in competitive exams like CA while benefiting from regional expertise. On the other hand, Tapasya stands to gain from Veranda Learning’s experience in curriculum development, technology integration, and student support services.
The company informed, Tapasya Educational Institutions, established in 2009, operates 19 Inter/ PU Colleges and 10 Degree Colleges across 13 locations in Telangana and Karnataka, catering to over 13,000 students. The institution covers Intermediate, Pre-University, Graduation courses (B.Com and BBA), Professional Courses (CA and CMA), and Integrated programs. TEIPL is expected to generate a revenue of Rs 65 crore with an EBITDA of Rs 26 crores for FY24.
The shares were up by 0.57 per cent to Rs 317.45 at close on the BSE.
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