Veranda Learning Acquires Stakes In BB Virtuals, Navkar Digital

Listed edtech company Veranda Learning Solutions said it has acquired a 40.41% stake in BB Virtuals and 65% stake in Ahmedabad-based online CA coaching institute Navkar Digital.

The Kalpathi Group’s edtech venture intends to acquire an additional 10.59% stake in BB Virtuals by June.

“Veranda Learning Solutions, which offers end-to-end solutions in the education space, has taken a 40.41% stake in BB Publications Private Limited (“BB Virtuals”) and acquired 65% stake in Navkar Digital Institute Private Limited (“Navkar Digital”). Veranda Learning will acquire an additional 10.59% stake in BB Virtuals by June 2025,” the company said in an exchange filing. 

This comes after the company in December last year announced its plans to acquire 51% stake in BB Virtuals for INR 126.2 Cr and 65% in Navkar Digital for INR 45.5 Cr.

The acquisitions are aimed at bolstering the edtech platform’s commerce vertical as the vertical expects to achieve pro forma EBITDA exceeding INR 120 Cr in FY25, the filing said.

Founded by CA Bhanwar Borana, BB Virtuals is a Mumbai-based online learning platform for CA and CMA aspirants. It claims to have trained more than 2,00,000 students online.

“We are thrilled to join forces with Veranda Learning. This partnership will allow us to extend our reach and continue providing top-notch resources and mentorship to CA and commerce students. Together, we aim to set new benchmarks in the realm of commerce education,” said Borana. 

Navkar Digital is a Gujarat-based education platform founded by Hiteshkumar Shah for CA, CS, and CMA aspirants. Shah said, “This partnership will allow us to integrate technology-driven learning methodologies while retaining the rigor and discipline of our offline teaching model.”

These acquisitions will further boost Veranda’s existing portfolio in CA and CMA and will be integrated with JK Shah Classes, a commerce-students focussed brand in Veranda’s portfolio.

“By bringing in BB Virtuals and Navkar Digital into the Veranda ecosystem integrating these companies with JK Shah Classes, we are building a powerful alliance that provides students pursuing commerce education with unparalleled academic support,” said J.K. Shah, founder of JK Shah Classes. 

Established in 2018 by Suresh, Veranda is a publicly listed digital learning platform offering test prep for several subjects such as government exams (state and national administrative services), banking, insurance, railways and more.

Last year, the Chennai-based company acquired educational services provider Tapasya Educational Institutions for at least INR 362 Cr (around $44 Mn), to strengthen its ecosystem by providing additional options in the commerce higher education space.

The company also enhanced its board with three board member appointments including founder of JK Shah Classes Jitendra Kantilal Shah, former Director of IIT Bombay Ashok Misra, as well as Alamelu, as a part of its larger initiative to professionalise the board.