By Sandeep Singh Apr 11, 2022 9:08:57 AM IST (Updated)
Veranda Learning Solutions IPO listing: Coaching services provider Veranda Learning's shares commanded a premium of Rs 15 ahead of the debut on BSE and NSE, according to dealers.
Veranda Learning Solutions' shares are set to debut on stock exchanges BSE and NSE on Monday. Coaching services provider Veranda Learning is among the few companies to hit the primary market so far in 2022, following a bumper year that saw most of 63 companies receive a robust response to their IPOs by investors.
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Prior to the listing on bourses, Veranda Learning commanded a premium in the grey market. The grey market is an unofficial market for unlisted securities. Veranda's grey market premium stood at Rs 15, dealers said. (What grey market really is)
Veranda Learning's IPO, which was open for bidding from March 29 to March 31, saw an overall subscription of 3.5 times.
Here's how investors have responded to the Veranda Learning Solutions IPO:
| Category | Subscription (No. of times the shares offered) |
| QIB | 2 |
| NII | 3.9 |
| Retail | 10.8 |
| Overall | 3.5 |
Under the IPO, Veranda shares were available for bidding in a price band of Rs 130-137 in multiples of 100.
| Date | GMP (in rupees) |
| Apr 8 | 15 |
| Apr 7 | 15 |
| Apr 6 | 15 |
| Apr 5 | 15 |
| Apr 4 | 15 |
| Apr 1 | 15 |
| Mar 31 | 15 |
Source: IPO Watch
The Veranda Learning issue received a dull response from QIB and HNI investors as it looked expensively priced, Abhay Doshi, Co-Founder of Unlisted Arena, told CNBCTV18.com.
"The asking rate was almost 25 times the price-to-sales ratio for a loss-making company," according to Doshi, who said he wouldn't be surprised if the Veranda listing happens on a flat-to-negative note.
First Published: Apr 11, 2022 8:36 AM IST
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