TT&A advised funds managed and/ or arranged by BPEA Investment Managers Private Limited, in relation to issuance of senior, secured, redeemable and unlisted non-convertible debentures of a nominal value of INR 1,00,000 each aggregating to not more than INR 425 crores by Veranda Learning Solutions Limited (“VLSL”), Veranda Race Learning Solutions Private Limited (“Race”) and Veranda XL Learning Solutions Private Limited (“Veranda XL”). The proceeds of the debentures are being used, inter alia, towards financing acquisition of certain entities by the Veranda group and towards repayment of existing financial indebtedness availed by the various group entities of the Veranda group.

VLSL, Race and Veranda XL are leading market participants in the education technology space and have consolidated various companies providing similar services under one umbrella. The proceeds of the Debentures are being used towards expanding the group further and meeting the working capital requirements of the group.

TT&A Team: Rituparno Bhattacharya & Pratika Shankar – Partners; Tanay Agarwal – Managing Associate; Prakrati Shah & Chhavi Singhal – Senior Associates and Shubham Kumar, Pallav Rathi, Adesh Sharma, Dhruvi Shah, Aanchal Kabra,& Nandini Pradhan – Associates