Veranda Learning announced that the group has received approval to raise funds for an amount up to education space, announced that the group has received approval to raise funds for an amount up to INR 4,250 million by way of issuance of Non-Convertible Debentures (NCDs) to funds managed and /or arranged by BPEA Investment Managers Private Limited (BPEA Credit). This strategic move aims to fuel the company's growth trajectory by financing acquisitions, refinancing existing loans, and bolsteringworking capital requirements. Veranda Learning remains focused on driving innovation, expanding its reach, and delivering value- added solutions to its customers while consistently delivering strong operating margins.

The company's strategic decision to raise debt through NCDs underscores its confidence in the future growth prospects of the education sector and its ability to capitalize on emerging opportunities. The NCD is part of a larger fund raise to be completed in the next three to six months. As discussed in its long-term vision, the company will balance the risk profile by raising equity-like instruments in the future.

This will be used for further acquisitions and fill the gaps in the Veranda ecosystem. The company is expected to complete these acquisitions by the first half of FY25, strengthening its position as a market leader in the education sector.