Chennai, February 25, 2026 – Veranda Learning Solutions Limited (BSE: 543514; NSE: VERANDA) has executed definitive agreements to avail a term loan facility of up to ₹140 crore from City Union Bank Limited, strengthening its balance sheet as it moves to refinance existing debt instruments.
The company informed exchanges that the Term Loan Agreement and Deed of Hypothecation were executed on February 24, 2026 at 11:30 p.m. IST
₹140 Crore Term Loan: Purpose and Structure
As detailed in Annexure A of the filing, the borrowing will be utilised, inter alia, towards the redemption of Non-Convertible Debentures issued by the company and its wholly owned subsidiary, Veranda Race Learning Solutions Private LimitedKey Details of the Term Loan
| Particulars | Details |
|---|---|
| Borrower | Veranda Learning Solutions Limited |
| Lender | City Union Bank Limited |
| Nature of Loan | Term Loan |
| Sanctioned Amount | ₹140 Crore |
| Date of Execution | February 24, 2026 |
| Shareholding in Lender | Nil |
Security Package: Real Estate, Guarantees and Receivables
The loan is backed by a comprehensive collateral and guarantee structure, including immovable assets, corporate guarantees, personal guarantees and hypothecation of receivables.Collateral Security
As disclosed, the facility is secured against the following properties owned by Veranda K-12 Learning Solutions Private Limited:| Location | Asset Description |
|---|---|
| Seevaram Village, Perungudi, Chennai | 36,590 sq ft land and three-floor school building |
| Morais City, Tiruchirapalli | 1,74,720 sq ft land and three-floor school building |
Additional Security and Guarantees
- Personal Guarantees from promoters Kalpathi S Aghoram, Kalpathi S Ganesh and Kalpathi S Suresh.
- Corporate Guarantees from Veranda K-12 Learning Solutions Private Limited and Veranda Race Learning Solutions Private Limited.
- Hypothecation of Receivables and Current Assets (present and future) of the company and multiple wholly owned and step-down subsidiaries, including Veranda IAS Learning Solutions Private Limited, Veranda Administrative Learning Solutions Private Limited, Phire Learning Solutions Private Limited, Neyyar Academy Private Limited, Neyyar Education Private Limited, and Bassure Solutions Private Limited
Deed of Hypothecation Executed in Favour of SBICAP Trustee
In a parallel move, the company and several subsidiaries have executed a Deed of Hypothecation in favour of SBICAP Trustee Company Limited, acting as Security Trustee.Under this arrangement:
- An amount of ₹140 crore shall be secured by each security provider.
- Phire Learning Solutions Private Limited will secure ₹40 crore.
- The Deed has been executed to secure borrowings from City Union Bank
About Veranda Learning Solutions Limited
Veranda Learning Solutions Limited is a publicly listed education technology and learning solutions company, engaged in providing diversified academic and competitive examination preparation services through its network of subsidiaries and step-down subsidiaries. The company is listed on both BSE and NSE under the ticker VERANDA.The latest borrowing aligns with its ongoing financial restructuring initiatives.
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