Veranda acquires online coaching institute Chennai Race for Rs 100 cr

Chennai, Dec 7 (Agency) The Kalpathi Group owned Veranda Learning Solutions today announced the acquisition of Chennai Race, India’s leading coaching institute for banking, SSC, and PSC exams. The acquisition valued at over Rs 100 crores and it included stock and earn out. A release here said the acquisition led to the launch of a new brand–Veranda Race–which will initially offer result-oriented online training programs for banking, Staff Selection Commission and TNPSC.

The focus of Veranda Race remains firmly on ensuring rigour and discipline amongst enrolled students thereby giving them the best opportunity to get jobs once they appear for written examinations. By December 2021 Veranda Race is planning to launch course content in 11 Indian languages. During the 2019-20 fiscal, Chennai Race recorded Rs 45 crore sales and has trained over 200,000 students so far backed across the states of Tamil Nadu, Kerala, Karnataka, and Punjab. Beginning in Chennai, Race’s unique ‘6 level practice program’ which, helps students to improve their speed and accuracy in a short span of time, and their resulted oriented, strategic curriculum, developed for each type of competitive exams, has seen Chennai Race students filling up about 60 to 80 percent of Tamil Nadu’s vacancies in the past 4-5 years. Suresh Kalpathi, CEO, Veranda Learning Solution said “In Race, we see an alignment with our philosophy of rigor and discipline in their education delivery, focus on outcomes and affordability to the real India. We expect Veranda Race to grow significantly in the coming months and years with addition of more products and languages.” ‘The acquisition of Race will bolster our offerings and will further define our position in the sector”, he said.

Bharath Seeman, Promotor of Chennai Race and Head of Veranda Race, said “the programs are set for rollout nationally, in the coming months, targeting a revenue of Rs 50 crores in the first year.” ‘By the end of 2021, our content will be available in 11 Indian languages and will be training around 50,000 to 60,000 students across the country”, he said, adding, the courses were priced at Rs 7,500 which included course materials and mentoring support.