India's Veranda Learning up on deal to buy education company

Veranda Learning Solutions

12/01/2024 09:05

** Shares of Veranda Learning Solutions  VERN.NS  rise 2.5%
to 323.9 rupees, up for 3rd straight session
    ** Co says to buy Tapasya Educational Institutions in three
tranches, spanning 4 yrs
    ** To pay 1.2 bln rupees ($14.5 mln) for 50% stake in first
tranche and 24 mln rupees for 1% stake in second tranche by
April 2024
    ** Last tranche for remaining stake in Tapasya in about four
yrs at floor price at 2.4 bln rupees
    ** Trading volumes over 2.2x the 30-day avg, but lower than
previous 2 days
    ** Stock up ~17% this week after four consecutive weekly
drops; had gained 16% in 2023
 
 ($1 = 82.8510 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))