Veranda-KSDC forge partnership for skill development of youth

Education company Veranda Learning Solutions, a listed education company offering competitive exam preparation training programmes in various sectors, as well as professional skilling and upskilling programs, has joined forces with the Karnataka Skill Development Corporation (KSDC) to assist in the implementation of the Wealth Management Course which is part of the Kalike Jothege Kaushalya, a state government initiative to provide skill development and career guidance to students in government colleges. The programme will be piloted in government colleges in Raichur and Gulbarga.

“We have had a great working relationship with TNSDC over the last two years and are now pleased to be joining hands with KSDC. We are exploring partnerships with other state government skill development corporations too,” said Pravin Menon, Chief Marketing Officer, Veranda.

The partnership aims to expand the company’s presence in Karnataka, he said.

“Our collaboration with KSDC is a key step in expanding our geographic footprint and continuing to deliver high-quality skill development programs across India. This reinforces our confidence in the Company’s future prospects, as demonstrated by the promoters pledging their holding in equity shares of the Company as collateral for securing recent Rs 425 crores NCD raised by Veranda and its subsidiaries,” said Suresh Kalpathi, Executive Director and Chairman of Veranda.

“Additionally, the Promoters have also recently infused Rs 46 crores into Veranda on exercise of warrants into equity shares at an exercise price of Rs.307 per equity share, which is at a substantial premium to the current market price helping secure the company’s financial future.” he said.