Date: September 23, 2026
Board Meeting Outcomes
J.K. Shah Commerce Education Limited (JSCEL), a wholly owned subsidiary of Veranda Learning Solutions Limited, has approved the issuance of Senior, Secured, Redeemable, Unrated and Unlisted Non-Convertible Debentures (NCDs) with the following details:
- Size of Issue: ₹143,00,00,000 (Rupees One Hundred and Forty-Three Crore only)
- Face Value: ₹1,00,000 per NCD
- Form: Dematerialized
- Placement Basis: Private placement
- Listing Status: Unlisted
Fundraising / Financing Details
Utilization of Proceeds:
The proceeds from the NCD issuance will be utilized for:
(i) Repayment of entire existing loan facility from RBL Bank Limited
(ii) General corporate purposes
Instrument Terms:
- Tenure: 5 years from the deemed date of allotment
- Coupon Rate: Fixed at 0.001% per annum
- Payment Schedule: Interest and principal payable on redemption
- Date of Allotment: Not specified
- Date of Maturity: 5 years from the deemed date of allotment
Security Details:
The principal amount of the NCDs, together with accrued interest, shall be secured by:
- Charge on all movable and immovable assets of JSCEL
- Minimum security cover maintained at 1x (one time) of the outstanding principal amount and accrued interest at all times
Additional Features:
- No special rights/interest/privileges attached to the instrument
- No details provided regarding delay in payment of interest/principal
- No comments regarding payment/non-payment matters
- No redemption details applicable
- No cancellation or termination of the issuance proposal