Kalpathi Group’s ed-tech arm Veranda acquires Chennai Race for Rs 100 cr

The Rs 4,000-crore Kalpathi Group’s newly floated ed-tech firm Veranda Learning Solutions has acquired Chennai Race, a coaching institute for Banking, SSC, and PSC exams. The transaction is valued at around Rs 100 crore and includes stock and earn out. The deal leads to the launch of a new brand called Veranda Race.

Veranda Race will initially offer result-oriented online training programmes for Banking, Staff Selection Commission and TNPSC. Veranda Race also plans to launch course content in 11 Indian languages by December 2021.

During 2019-20, Chennai Race recorded sales of about Rs 45 crore. It has trained over 200,000 students so far, Tamil Nadu, Kerala, Karnataka, and Punjab.