Veranda Learning Solutions, the leading EdTech company offering end-to-end solutions in education, has announced that it has acquired a 40.41% stake in BB Virtuals and a 65% stake in Ahmedabad-based online CA coaching institute Navkar Digital. According to an official statement, the company intends to acquire an additional 10.59% stake in BB Virtuals by June 2025.
The company said the acquisitions will amplify its position as a leader in commerce education across India. The company’s commerce vertical is expected to achieve a pro forma EBITDA exceeding Rs 120 crore for FY25.
BB Virtual is a comprehensive online platform founded by renowned chartered accountant (CA) educator Bhanwar Borana that offers lectures and study materials to CA and CMA candidates. The platform focuses on quality education by carefully selecting experienced faculty members. CA Bhanwar Borana, who has over 12 years of teaching experience and a track record of taking students to CA ranks, is a valuable guide, teacher, mentor, motivator, and friend to students as they pursue their aspirations and goals. The Mumbai-based company claims to have trained over 200,000 students online, resulting in over 500 all-India rank holders.
Speaking on the development, Bhanwar Borana, Founder of BB Virtuals, said:
We are thrilled to join forces with Veranda Learning. This partnership will allow us to extend our reach and provide top-notch resources and mentorship to CA and commerce students. Together, we aim to set new benchmarks in commerce education.
Navkar Digital, founded by Hiteshkumar Shah, is a well-established offline education platform for chartered accountancy (CA), company secretary (CS), and cost & management. The platform aims to meet the coaching needs of students in remote locations through a specially built Distance Learning Programme. Students can access detailed video lectures on every topic covered at all levels of CA. Each video lesson provides a complete conceptual analysis and solutions to Navkar’s exhaustive material, allowing students to get a competitive advantage in the CA exam and realize their dream of becoming professionals from the comfort of their homes.
Hitesh Shah, Managing Director of Navkar Institute, stated:
We are thrilled to be part of the Veranda ecosystem, leveraging our combined strengths to grow the business and continue supporting students in achieving their professional dreams. This partnership will allow us to integrate technology-driven learning methodologies while retaining the rigour 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-focused brand in Veranda’s portfolio.
Prof. J.K. Shah, Founder of JK Shah Classes, added:
By integrating BB Virtuals and Navkar Digital into the Veranda ecosystem and bringing these companies into JK Shah Classes, we are building a powerful alliance that provides students pursuing commerce education with unparalleled academic support.
Veranda Learning Solutions Limited was founded in 2018 by the Kalpathi AGS Group and has rapidly grown into a prominent, publicly traded education firm. The company claims it has experienced a significant presence in schools and colleges, test preparation, study abroad, and software upskilling. It integrates advanced technology, robust processes, and innovative methodologies to offer high-quality, personalized learning experiences.
Last year, the Chennai-based company acquired at least INR 362 crore (about $44 million) from educational services provider Tapasya Educational Institutions to expand its ecosystem by adding more options in commerce higher education.
