Veranda Learning Solutions IPO
Veranda Learning Solutions Limited (VERANDA) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 11 April 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +4.6% (likely range -16% to +26%), day's high +14.4%, chance of a gain 50%. Actual: -8.8% at the open, -4.2% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 79,42,212 | 1,60,63,700 | 2.02x | |
| NII (HNI) total | 23,07,692 | 89,31,000 | 3.87x | |
| Retail | 15,38,461 | 1,65,60,300 | 10.8x | |
| Total | 1,17,88,365 | 4,15,55,000 | 3.53x |
Bids on NSE and BSE together, as published by NSE, as of 31 Mar 2022, 05:00 PM. Shares offered exclude the anchor portion. 32% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Veranda Learning Solutions's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Shriram PropertiesDec 2021 | 1.85x | 4.82x | 12.7x | 4.60x | ₹627 Cr | -23.7% | -9.8% |
| Apex Frozen FoodsAug 2017 | 1.91x | 7.82x | 8.53x | 6.14x | ₹152 Cr | +15.4% | +21.2% |
| Barbeque-Nation HospitalityMar 2021 | 5.11x | 3.10x | 13.1x | 5.98x | ₹453 Cr | -2.0% | +17.6% |
| UMA ExportsMar 2022 | 2.81x | 2.22x | 10.1x | 7.67x | ₹64.7 Cr | +11.8% | +17.4% |
| Bharat Road NetworkSep 2017 | 1.33x | 1.63x | 5.69x | 1.81x | ₹1,276 Cr | 0.0% | +6.8% |
| Craftsman AutomationMar 2021 | 5.21x | 2.84x | 3.43x | 3.81x | ₹824 Cr | -8.8% | 0.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Systematix Corporate Services | 11 | +11.4% | 45% |
Offer documents (NSE)
Frequently asked
What is the Veranda Learning Solutions IPO price band and lot size? ₹130–137 per share, with a lot of 100 shares, so the smallest retail bid is ₹13,700.
How many times has it been subscribed? 3.53x overall: QIB 2.02x, NII 3.87x, retail 10.8x.
How did it list? It opened at ₹125, -8.8% against the issue price of ₹137, and closed its first day -4.2%.
