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Veranda Learning Solutions Limited (“Veranda”) was incorporated on November 20, 2018, and is engaged in the business of offering diversified and integrated learning solutions in online, offline hybrid, and offline blended formats to learners enrolled with their courses through a multitude of career-defining competitive exams, professional courses, exam-oriented courses, short-term up-skilling, and re-skilling courses.
Veranda Learning's corporate restructuring is effective. VXLS amalgamated into VLS, boosting VLS's authorized capital to INR 147.50 Cr. The Commerce Business, including key subsidiaries, is demerged into JSCEL. VLS shareholders will receive one JSCEL share for each VLS share held.
Veranda Learning's 6,23,054 convertible warrants lapsed as holders didn't pay the balance consideration. The company forfeited the initial 25% subscription, amounting to approximately 5.00 Cr. This amount will be retained, with no change to the paid-up share capital.