VERANDA LEARNING SOLUTIONS LIMITED Veranda Learning Solutions Limited announced that the allotment committee of the company has approved the allotment of 2,500 senior, secured, redeemable, unlisted and non- convertible debentures of a nominal value of INR 100,000 each aggregating to INR 250,000,000 to the investors at its meeting held on April 18, 2024. Type of issuance: Private Placement. Tenure of the instrument -date of allotment and date of maturity: Up to 5 years from the Deemed Date of Allotment.
The final redemption date being 1 February 2029. coupon/interest offered, schedule of payment of coupon/interest and principal: (a) 9.75% per annum on and from the Deemed Date of Allotment of the Veranda XL Series I Debentures until the expiry of 24 months from the Deemed Date of Allotment of the Veranda XL Series I Debentures compounded monthly and payable quarterly. (b) 11% per annum after the expiry of 24 Months from the Deemed Date of Allotment of the Veranda XL Series I Debentures until the Final Settlement Date compounded monthly and payable quarterly.
