For a total of Rs 120 crore, publicly traded Veranda Learning Solutions, a provider of all-inclusive educational solutions, has announced its intention to purchase a 50% share in Tapasya Educational Institutions Private Limited (TEIPL). An official release states that Veranda XL Learning Solutions Private Limited, a division of Veranda Learning, would handle this transaction.
Tapasya Educational Institutions was founded in 2009 and is said to service over 13,000 students in 19 Inter/PU colleges and 10 degree colleges spread over 13 locations in Telangana and Karnataka. A wide range of educational services are provided by the institution, including Intermediate, Pre-University, B.Com., BBA, CA, CMA, and Integrated programs. TEIPL is estimated to create a revenue of Rs 65 crores with an EBITDA of Rs 26 crores for the fiscal year 2024, the release added.
For Tapasya, partnering with Veranda Learning Solutions is a big accomplishment. Muppala Sreedhar, the founder and chairman of Tapasya Institutions, stated, “We think that our shared vision for educational excellence and Veranda’s track record will result in a powerful synergy, benefiting students and educational stakeholders.”
Tapasya and Veranda Learning both stand to gain from this purchase. According to Veranda, the acquisition of Tapasya would strengthen its position in the Commerce Higher Education market and further its strategic ambition of being involved in every facet of a student’s educational career. Veranda Learning hopes to use local knowledge to extend its services in competitive exam courses, such as CA, by utilizing Tapasya’s well-established network.
The objective is to reach one million students by FY24, and this initiative will help us get there. Our expansion approach is well-suited to Tapasya’s robust foothold in Telangana and Karnataka. Together, we’re excited to build a more comprehensive and integrated learning environment for kids in these areas, said Suresh Kalpathi, chairman and executive director of Veranda Learning Solutions.
