Veranda Learning Executes Agreements for ₹140 Crore Term Loan from City Union Bank
Veranda Learning Solutions Limited executed agreements for a ₹140 Crore Term Loan from City Union Bank on February 24, 2026. The funds will be used to redeem NCDs. The loan is secured by company assets, promoter personal guarantees, and corporate guarantees from subsidiaries.
A ₹140 Crore term loan is a material amount for the company and will impact its debt structure and financial obligations. The use of funds for NCD redemption is a positive step in managing liabilities.
The execution of a significant term loan facility indicates the company's ability to secure funding, which is generally a positive development for business operations and debt management.
Veranda Learning Solutions Limited has executed key agreements for a Term Loan facility of up to ₹140 Crores from City Union Bank Limited. This follows the company's earlier disclosure on February 6, 2026, regarding the approval for this fundraising. The agreements, executed on February 24, 2026, include a Term Loan Agreement and a Deed of Hypothecation.
The purpose of this borrowing is to redeem Non-Convertible Debentures (NCDs) issued by Veranda Learning Solutions and its wholly-owned subsidiary, Veranda Race Learning Solutions Private Limited. The loan is secured by collateral, including land and school buildings owned by Veranda K-12 Learning Solutions Private Limited in Chennai and Tiruchirapalli. Additionally, personal guarantees from promoters Kalpathi S Aghoram, Kalpathi S Ganesh, and Kalpathi S Suresh are provided. Corporate guarantees from Veranda K-12 Learning Solutions Private Limited and Veranda Race Learning Solutions Private Limited are also in place.
Further security includes the hypothecation of receivables and current assets of several group companies: Veranda Learning Solutions Limited, Veranda Race Learning Solutions Private Limited, Veranda IAS Learning Solutions Private Limited, Veranda Administrative Learning Solutions Private Limited, Phire Learning Solutions Private Limited, Neyyar Academy Private Limited, Veranda K-12 Learning Solutions Private Limited, Neyyar Education Private Limited, and Bassure Solutions Private Limited. The promoters also propose to pledge equity shares in Veranda Learning Solutions Limited aggregating ₹50 Crores, with the pledge agreement yet to be executed.
The Deed of Hypothecation secures the borrowings from City Union Bank, with the total secured amount being ₹140 Crores for most security providers. Phire Learning Solutions Private Limited has a secured amount of ₹40 Crores under this deed. The transaction is conducted on an arm's length basis and does not fall within related party transactions.
What to do with a filing like this
Veranda Learning Solutions Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Veranda Learning Solutions Limited. Read the original for the full detail.