Veranda Learning Solutions has announced that it will acquire 50% of Tapasya Educational Institutions Private Limited (TEIPL) for a consideration of Rs 120 Crore through Veranda XL Learning Solutions Private Limited, a material subsidiary of the company.
Tapasya Educational Institutions, established in 2009, offers services to 19 Inter/ PU Colleges and 10 Degree Colleges across 13 locations in Telangana and Karnataka, with over 13,000 students. Tapasya caters to a wide range of educational and allied needs for colleges offering courses including Intermediate, Pre-University, Graduation courses such as B.Com and BBA, Professional Courses like CA and CMA, as well as Integrated programs. TEIPL is expected to deliver a revenue of Rs 65 crores with an EBITDA of Rs 26 crores for FY24.
The acquisition is a win-win situation for both Veranda Learning and Tapasya. The vision of Veranda is to be present across the end-to-end learning journey of the student, and acquiring Tapasya will strengthen its ecosystem by providing additional options in the Commerce Higher Education space. Veranda Learning can tap into Tapasya’s existing network, expanding CA and other competitive exam course offerings while leveraging regional expertise. Tapasya, on the other hand, stands to benefit from Veranda Learning’s extensive experience in curriculum development, technology integration, and student support services. Veranda Learning’s commitment to academic excellence and Tapasya’s regional stronghold set the stage for a symbiotic relationship that will reshape the educational landscape in Telangana and Karnataka.
Muppala Sreedhar, Founder and Chairman of Tapasya Institutions, commenting on the deal said, “Joining forces with Veranda Learning Solutions marks a significant milestone for Tapasya. We believe that our shared vision for educational excellence and Veranda’s proven track record will result in a powerful synergy, benefiting students and educational stakeholders.”
Suresh Kalpathi, Executive Director and Chairman of Veranda Learning Solutions, added, “The goal is to touch 1 million students in FY24 and this endeavour of ours will take us in that direction. Tapasya’s strong presence in Telangana and Karnataka perfectly complements our expansion strategy. Together, we look forward to creating a more robust and integrated educational ecosystem for students in these regions.”