Veranda Learning Solutions Limited

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ions Limited September 15,2025 BSE Limited Dept of Corporate Services, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001 National Stock Exchange of India Limited The Listing Depart

100%

er with CMA USA Proposed merger and demerger Merger Demerger Resultant Structure Shareholder 100% Shareholder 100% Shareholder 100% Veranda Learning Solutions Ltd. (VLS) Veranda Learning Sol

35%

ocking  The financial services education market is expected to witness strong demand growth of 25–35%, driven by GCC players entering the domestic market.  JKSC, as the market leader in student del

40%

digree.  Given its leadership position, JKSC is expected to outpace industry growth, achieving 35–40% growth.  At the time of listing, assuming a PEG ratio of 1, JKSC is likely to be valued at 35x–40

35x

35–40% growth.  At the time of listing, assuming a PEG ratio of 1, JKSC is likely to be valued at 35x–40x earnings, reflecting its strong growth trajectory and market dominance. Commerce Segment pro

40x

0% growth.  At the time of listing, assuming a PEG ratio of 1, JKSC is likely to be valued at 35x–40x earnings, reflecting its strong growth trajectory and market dominance. Commerce Segment project

22%

69 29 60 0 281 FY25 23 40 11 26 0 100 FY26E 2,01,287 FY26E 139 85 33 71 15 344 22% FY26E 30 47 13 36 9 136 Key Highlights of the Scheme The said Scheme involves the demerger