CHENNAI: Listed education enterprise Veranda Learning announced the group has received approval to raise funds for an amount up to Rs 425 crore by way of issuance of non-convertible debentures (NCDs) to funds managed and /or arranged by BPEA Investment Managers Private Limited (BPEA Credit).
The NCD is part of a larger fund raise to be completed in the next three to six months. This strategic move aims to fuel the company’s growth trajectory by financing acquisitions, refinancing existing loans, and bolstering working capital requirements.
Suresh Kalpathi, executive director and chairman, Veranda Learning, said “This decision aligns with our strategic vision to solidify our position as a leader in the education space. The NCD proceeds will be instrumental in supporting our expansion plans, enabling us to pursue strategic acquisitions, enhance operational efficiencies, and drive long-term value creation for our stakeholders.”
Kanchan Jain, head, BPEA Credit Group, said “This investment is in line with our Fund’s objective of participating in growth-oriented businesses and partnering with industry leaders by providing bespoke capital solutions.”