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Veranda Learning Solutions has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise up Rs 200 crore through an initial public offering (IPO). The shares of the company are proposed to be listed on both BSE and NSE.

Proceeds of the public issue will be utilised towards repayment or pre-payment, of loan, the retirement of acquisition consideration of Edureka, and growth initiatives. Systematix Corporate Services is the book running lead manager to the issue.

Veranda is a comprehensive 360-degree online education platform. It is engaged in the business of offering diversified and integrated learning solutions in online, offline hybrid, and offline blended formats to students, aspirants, and graduates professionals and corporate employees.