Veranda Learning Solutions Limited (NSE: VERANDA | BSE: 543514) on Aug 24 announced that the National Company Law Tribunal (NCLT), Chennai Bench – I, has sanctioned the Composite Scheme of Arrangement involving Veranda Learning Solutions Limited, Veranda XL Learning Solutions Private Limited and J.K. Shah Commerce Education Limited (JSCEL), paving the way for the demerger of the Company’s Commerce vertical into JSCEL which will seek listing.
The NCLT approval marks a significant milestone in the Company’s Veranda 2.0 strategy of creating focused, independently managed education businesses with sharper strategic focus, greater operational agility and enhanced long-term value creation for shareholders.
With this approval, and subject to completion of the implementation steps under the sanctioned Scheme, applicable regulatory filings and other customary approvals, the Company has entered the execution phase of the demerger. The process is expected to be completed within the prescribed statutory timelines, including determination of the Record Date, share allotment and listing of J.K. Shah Commerce Education Limited.
Upon the Scheme becoming effective, J.K. Shah Commerce Education Limited will house Veranda Learning’s entire Commerce education business, bringing together leading brands including J.K. Shah Classes, BB Virtuals, Navkar Digital Institute, Tapasya College of Commerce and Logic School of Management under a single, focused platform. As an independent listed company, J.K. Shah Commerce Education Limited will be well-positioned to pursue accelerated growth, strengthen its market leadership and create long-term value for all stakeholders.
